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Chinese online learning app Zuoyebang raises $750M

Zuoyebang, a Beijing-headquartered startup that runs an online learning app, said on Monday it has raised $750 million in a new financing round as investors demonstrate their continued trust in — and focus on — Asia’s booming edtech market.
U.S. investment firm Tiger Global and Hong Kong-based private equity firm FountainVest Partners led the six-year-old startup’s Series E financing round. Existing investors including SoftBank’s Vision Fund, Sequoia Capital China, Xiang He Capital, Qatar Investment Authority also participated in the round, which brings the startup’s to-date raise to $1.33 billion.
As we have previously noted in our coverage, Zuoyebang’s app helps students — ranging from kindergarten to 12th-grade — solve problems and understand complex concepts.
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