Zuoyebang bags $1.6 billion from investors like Alibaba
Zuoyebang bags $1.6 billion from investors like Alibaba: Zuoyebang has announced raising a $1.6 billion Series E+ from investors including Alibaba Group . Other participants included returning investors Tiger Global Management , SoftBank Vision Fund , Sequoia Capital China and FountainVest Partners . Zuoyebang’s latest announcement comes just six months after it announced a $750 million Series E led by Tiger Global and FountainVest. The latest financing brings Zuoyebang’s total raised so far to $2.93 billion. The company did not disclose its latest worth, but Reuters reported in September that it was raising at a $10 billion valuation. One of Zuoyebang’s main competitors is Yuanfudao, which announced in October that it had reached a $15.5 billion valuation after closing a $2.2 billion round led by Tencent. This pushed Yuanfudao ahead of Byju as the world’s most valuable edtech company. Another popular online learning a...