Tencent-backed edtech firm Meishubao for aesthetic education said to launch U.S. IPO

36Kr reported recently that China-based online art education platform Meishubao is seeking a U.S. IPO, Goldman Sachs and J.P. Morgan are underwriters. While a representative for Meishubao responded to JMDedu for no comments.Credit: crunchbaseSince July 2020, Meishubao has successively completed three rounds of financing within 7 months, bring the company’s total funding to over 2.25 billion yuan.Founded in 2014, Meishubao focuses on integrating digital technology into teaching and building a new environment for aesthetic education in terms of students from 3 to 18-year-old. To date, Meishubao has around 5,000 staff and more than 20,000 online full-time teachers, over 5 million registered users, and over 500 thousand paying users.According to 36Kr, Meishubao’s revenue in 2020 totaled more than RMB2 billion. Gan Ling, the founder of Meishubao, once said that the company is expected to achieve overall profitability in 2021.