According to Qichacha which delivers data and analytics on China-based private and public companies to consumers and enterprises, Zuoyebang, one of Chinese leading online education providers, has raised its registered capital from USD800 million to USD1.5 billion, an increase of 87.5%.
The latest funding round was closed in June 2020 in which the company has secured USD750 million. After this deal, Hou Jianbin, put forward “one horizontal and one vertical strategy”, taking K-12 dual-teacher large-sized class as the core.
Horizontally, Zuoyebang will explore more products including teaching materials, hardware, etc. Vertically, the company is to provide services to children and university students to extend its user life cycle.
As of now, the accumulated active users of Zuoyebang have exceeded 800 million, and the monthly active users have exceeded 170 million.
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