IFR: Tencent-backed Huohua Siwei mulls U.S. IPO this year
2021-01-07 14:13:03


According to International Financing Review, Tencent-backed Huohua Siwei, specializing in Mathematics and Science education for kids, is pondering over listing in the U.S. to raise about $200 to 300 million. While a representative for Huohua Siwei responded to JMDedu for no comments.

As one of the leading edtech companies in China, Huohua Siwei has completed eight financing rounds with a total amount of $440 million. The latest round was closed in October 2020, raising $100 million from investors including Tencent, Carlyle Group’s fund, and Yuanfudao.

Luo Jian, the founder of Huohua Siwei, revealed in his letter to all staff last October that the company has attracted 85,000 daily learners on its various learning apps, and Huahua Siwei’s total learners have reached 250,000. Plus, the referral rate has reached 85%, and the renewal rate of its products has highly reached 95% last July.

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