Tencent invests $40m in VC-backed Chinese education site
Tencent Holdings has committed $40 million for a minority stake in VC-backed Yuanfudao - the largest single investment made by the internet company in the K-12 online learning and teaching space.
Yuanfudao, previously known as Yuantiku and Fenbi.com, was founded in 2012 by former NetEase executive Yong Li. The company claims to work with more than 150,000 college and high school students every...
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