TAL Education invests $25m in VC-backed Babytree
TAL Education, a China-based after-school tutoring services provider, has acquired a minority stake in childcare website Babytree for RMB150 million ($25 million). The online baby nursing information provider secured previous investments from Matrix Partners, Susquehanna Growth Equity and China Broadband Capital Partners.
The transaction will help TAL expand its online user base.
Founded in 2007, Babytree also operates parental subscription services under the Mika brand, whereby parents receive books, multimedia games and toys to support their child's development at every stage. The company claims to reach more than 80 million users each month.
"Our investment in this company aligns well with our vision to position TAL at the intersection of where education meets technology. It also suits our business strategy to date, that as we enter new verticals or geographical areas we explore online community first to understand new customers and markets," said Bangxin Zhang, TAL's chairman and CEO.
According to AVCJ Research, Matrix invested an undisclosed sum in Babytree in 2007.
Listed in the US, TAL's tutoring services cover the core academic subjects in China's school curriculum. The group has 265 learning centers located in 15 key Chinese cities, such as Beijing, Guangzhou, and Shenzhen.
More on Greater China
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.