China: Tencent, Capital Today back $100m Series D round in Q&A platform Zhihu

Chinese Yuan bank notes. Photo: Bloomberg

Zhihu, a Beijing-based question-and-answer knowledge sharing platform, raised up to $100 million in a Series D round funded by Capital Today, Tencent Holdings Ltd, Sogou Inc, Qiming Venture Partners, and Sinovation Ventures.

Capital Today founder Kathy Xu said the investment in Zhihu is the largest single deal her company made during the past year, the China Money Network reported.

She believes Zhihu has a potential to grow meeting users’ various needs in content and consumption. And with Capital Today’s 28-year fund life horizon, she said it can help Zhihu establish its brand and create value for users.

Similar to US-based Q&A platform Quora, Zihu has launched a new mobile real-time Q&A product last year and hosted over 1,500 live Q&A events. It entered 2017 with 65 million registered users with daily unique users and visits of 18.5 million. In 2015, it recorded six million questions and 23 million answers from users.

The startup previously raised $55 million in a series C financing last 2015 led by Tencent at a valuation of $300 million. It did not dislose its current valuation.

Zhihu founder Zhou Yuan envisions their knowledge-based platform to become the best place for discussions online among emerging middle class in China and the venue where experts can share their insights to be compensated.

Launched in 2010, Zhihu received around $10 million in series A round from Qiming in 2013, then $22 million in a series B round led by SAIF Partners the next year.

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