English Learning Site 51Talk Lands USD 55 Mln Series C
Tencent Tech, 10/23/14
Beijing-based Dasheng Zhixing, operator of online English learning website 51talk.com, has completed USD 55 mln Series C funding led by Sequoia Capital, with participation from Shunwei Investment and US-based Doll Capital Management (DCM). China Renaissance Partners acted as an advisor for the investment.
Huang Jiajia, founder of 51Talk, revealed that 51Talk will not focus on profitability for the next three years, instead using the money to upgrade the company's core curriculum, technology platform and IT systems. Moving forward, the company will look to strengthen its foreign teacher base, expand its young children's education business and expand internationally.
51Talk currently focuses on non-test oriented adult English training, mostly used for career development. 51Talk has almost 50,000 paid users and 2,500 non-Chinese English teachers.
Keywords: VC Huang Jiajia Internet funding users China Renaissance Doll Capital Management Sequoia Capital Shunwei Dasheng Zhixing 51Talk third-round online education language learning
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