Shengtong Printing buys RoboRobo; Tencent backs 2 startups

Shengtong Printing is acquiring educational robot school operator RoboRobo Education while Tencent Holdings invests in knowledge-sharing platform Zaihang and Fenda.

RoboRobo purchase

The Shenzhen-listed Shengtong has agreed to purchase RoboRobo Education in a deal totaling RMB 430 million ($62 million) in a cash-cum-stock deal.

RoboRobo Education raised RMB10 million in angel investment from Zhen Fund in 2014 and received $10 million from New Oriental Education & Technology Group Inc. last year.

The company was set up in 2012 in Beijing as the general agent in China for South-Korean based educational robot courses and tool developer Roborobo. Now, it operates 16 schools in Beijing, Shanghai, Guangzhou, Shenzhen, Nanjing, and other cities.

RoboRobo Education projects net earnings to reach RMB32 million in 2016 and RMB 40 million in 2019.

Tencent backs Zaihang, Fenda

Tencent has invested an undisclosed amount of funding in platform Zaihang and Fenda, the company announced on its Wechat public account, as quoted by ChinaMoneyNetwork.

Zaihang was launched earlier in 2015. It allows users to request audio calls or meet in person with thousands of experts including consultants, investors, executives for a fee.

Meanwhile, Fenda is an audio Q&A knowledge sharing mobile app that was released in May. It rapidly attracted enormous popularity by enlisting Chinese celebrities to discuss adult subjects. Fenda raised $25 million from Vision Plus Capital, Sequoia Capital, Wang Sicong and Luoji Siwei in June and an earlier pre-A round.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.