Bloomberg reported today that Warburg Pincus-backed Chinese online tutoring platform Zhangmen is considering a U.S. initial public offering to raise about $300 million.
According to people familiar with the matter, Zhangmen has held discussions with potential advisers on the share sale, which could take place as soon as next year.
While a representative for Zhangmen responded to JMDedu for no comments.
Zhangmen, which means leader or master in Chinese, was founded in 2005 with an initial focus on after-school tutoring in classrooms. IIn 2014, the company shifted its business model to online one-on-one tutoring for elementary and high school students.
Now, the company has four major brands: Zhangmen 1-on-1, Zhangmen large-sized class, Zhangmen Kid, and Zhangmen Peilian(for online piano sparring). To date, the company has more than 60 million registered members.
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