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Wire: CN Online Tutoring Education Platform 'Zuoyebang' Files for US IPO
2024-04-25 15:31:07 Zuoyebang, a Chinese online tutoring and education platform, has confidentially filed for a US initial public offering and is working with advisers to go public as soon as this year, potentially raising less than US$100 million, Bloomberg reported, citing sources. Discussions are ongoing, and it is still possible that the company may eventually decide not to move forward with the listing plan. Zuoyebang is a service founded by former Baidu executive Hou Jianbin in 2015 and subsequently made independent by Baidu. Investors include Alibaba Group, Sequoia Capital and SoftBank Vision Fund. It provides tutoring and education services to students from kindergarten to high school, who can get explanations for homework questions uploaded through a mobile app. Zuoyebang was rumoured to be considering a US IPO back in 2021. ~ AAStocks Financial News Web Site: www.aastocks.com | |