Online and Mobile Education Firm Xingshuai Lands RMB 300 Mln Series B
Duozhi.com, 4/06/16
Guangzhou-based Xingshuai Education Technology, operator of online education platform Xingshuai Teach, recently announced completion of RMB 300 mln Series B funding from Guotai Junan Securities (601211.SH), China Mobile Innovation Industry Fund, China Minsheng Investment Group (CMIG), and Beijing-based HG Capital. Xing Shuai, founder of Xingshuai Education, said that funds will mainly be used to develop virtual reality education content. Xing also revealed that Xingshuai has formed distribution partnerships with China Mobile's (NYSE: CHL; 0941.HK) education platforms Migu Xuetang and He Education, and that the company finished dismantling its variable interest entity (VIE) structure in March 2016 and is preparing for a backdoor A-shares listing in China later this year.
Xingshuai offers design and digital image production courses in live broadcast and recorded formats through its website, mobile app, and smart TV platforms.
Xingshuai launched in 2008 and derives profits from online course fees. The company previously completed RMB 15 mln Series A funding in July 2013.
Editor's Note: For more information on this topic, please see "Online Education Firm Xingshuai Wins First-round Funding,"MD 7/11/13 issue.
Keywords: Xingshuai Teach 601211.SH M&A VC online education funding Series B China Mobile Guotai Junan Xingshuai CMIG HG Capital business model mobile education wireless Internet
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