China Online Education slips on trading debut, VCs re-up
VC-backed China Online Education Group closed marginally below its offering price on the first day of trading on the New York Stock Exchange, following an IPO worth $45.6 million. Existing backers Sequoia Capital and DCM concurrently committed an additional $20 million to the company.
China Online Education's stock opened at $20.25 on June 10 and peaked at $20.60 before closing at $18.98. The company, which operates English-learning mobile app 51 Talk, earlier sold 2.4 million American...
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