Rumor: HJEnglish Plans Domestic IPO

Sohu IT, 6/04/14

According to an industry insider, Shanghai Hujia Culture Broadcasting, operator of online English language learning site HJEnglish, is undergoing share restructuring and plans to list its A Shares on a domestic stock exchange as early as next year. The company may carry out one new round of financing before its IPO.

Previous reports have indicated that Chinese internet giants Baidu (Nasdaq: BIDU), Alibaba Group, and Tencent (0700.HK) have all been in contact with HJEnglish regarding possible investments in the company. In response to the rumors, HJEnglish co-founder Yu Jie has stated that the company would be interested in possible partnerships with all three companies in the future, but is not necessarily interested in receiving funding from any of the three.

According to Yu, HJEnglish is also involved in talks with Google regarding the possible establishment of a joint venture to teach Chinese language to overseas users.

Keywords: Yu Jie Internet HJEnglish Hujia Culture Broadcasting funding online education IPO language learning

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