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Alibaba leads Series B round for online education site

  • Christie Ou
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Myfriday.cn, a Chinese timetable social mobile app developer, has received a Series B round of funding led by Alibaba Group. Existing investors the Sequoia Capital and Ceyuan Ventures also participated.

The investment amount is said to be tens of millions of dollars. It will be used to expand and develop the company's market in Beijing.

Last June, Myfriday received $3 million from Sequoia and Ceyuan, while ZhenFund made a follow-on investment of more than RMB10 million two months later.

Myfriday is a Chinese timetable social mobile apps developer founded in 2010. It accesses the class timetables of more than two thousand colleges in China and recommends course to users based on their preferences. It also provides a platform for students to share resources. It has a staff of around 60 and claims to have more than 10 million users.

"As one of the Chinese e-commerce giant, I believe Alibaba will provide better support and advices in the business management of our company," said Jiewen Yu, CEO of Myfriday.

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