Baidu's Mobile Homework App Zuoyebang Raises USD 60 Mln Series B
NetEase, 9/23/16
Beijing-based Xiaochuan Chuhai Education Technology, operator of mobile homework app Zuoyebang (Homework Helper), has completed USD 60 mln Series B funding, jointly led by Granite Global Ventures and Xianghe Capital (a VC firm founded by former Baidu executives), and with participation from Sequoia Capital and Legend Capital. A small part of the funding will be used to further consolidate Zuoyebang's market position, said Zuoyebang CEO Hou Jianbin, while the rest will go towards recruitment in order to attract and train new talent, and towards the continued development of educational services such as one-on-one question answering and live broadcast classes.
Zuoyebang has 175 mln users, according to its own official statistics. As of August 2016, the platform had 50 mln registered users, a database of 95 mln homework answers, and 133 education company partners.
Editor's Note: Zuoyebang was split off from Chinese internet company Baidu (Nasdaq: BIDU) in August 2015, and the company subsequently completed Series A funding in September 2015. For more information on this topic, please see "Baidu's Mobile Homework App Zuoyebang Wins Series A Funding," MD 9/02/15 issue.
Keywords: Xianghe Capital Hou Jianbin funding wireless Baidu Legend Capital Series B Sequoia Capital BIDU Zuoyebang Xiaochuan Chuhai GGV Capital online education
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