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Does Yuanfudao have a chance to become a giant in the online education industry?
According to the resource, on August 31, Chinese online education platform Yuanfudao is set to raise $1.2 billion in its Series G from investors including Tencent, Hillhouse Capital, Boyu Capital, and so on. After the financing, its valuation will exceed $13 billion, making it one of the most valuable ed-tech companies in China.
It can be seen that the capitals are extremely optimistic about the online education industry, but will there really be a giant like BAT (Baidu, Alibaba,Tencent) in the online education industry?
Looking back at the development of the industry over the years, it can be found that the development of online education is similar to the competition in 9 years ago.
In 2010, the group-buying model was introduced to China from abroad. A year later, the number of Chinese group-buying websites once exceeded 5,000.