China’s Toutiao leads $200m Series E round in education platform 17zuoye.com

Photo: REUTERS/Jason Lee

Toutiao, one of China’s largest mobile-based news and content platform backed by Bytedance Technology Co Ltd, has led a $200 million Series E investment in Beijing-based online education platform 17zuoye.com, the China Money Network reported.

Others investors joining the Series E round, however, were not disclosed.

17zuoye.com provides interactive services and products for parents, students and teachers in K12 education, primarily on mathematics and English language learning.  It now operates across the 31 provinces and cities, covering 100,000 schools, and over 50 million users.

Toutiao has recently made some buyouts to consolidate its position as a leading online content platform.

The Chinese media startup in February acquired augmented reality-based selfie app Faceu for $300 million, as part of its bid to expand its business scope. The deal follows two recent major investments by Toutiao’s parent company ByteDance, which signals the company’s intent to further broaden its presence.

Last year, it purchased Shanghai-based short video website Musical.ly for about $1 billion, Flipagram, a Los Angeles-based video startup, and News Republic, a mobile news and information platform for about $86.6 million.

Also Read: 

China Digest: Toutiao bets on Shengying Animation; IDG joins Huoxing24.com round

China’s Toutiao said to acquire local selfie app Faceu for $300m

 

 

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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.