New Oriental Education leads $13m in Chinese provider of kids content

Image from pixabay

NYSE-listed New Oriental Education & Technology Group Inc has led a RMB90 million ($13 million) funding round in Kaishuo Jianggushi, a provider of stories content for children, according to China Money Network.

Trustbridge Partners, Zhejiang Daily Digital Culture Group and iResearch Capital also joined this round.

The report cited that investors are interested in this funding round as Kaishuo Jianggushi is part of a new generation of content and knowledge-sharing platforms emerging in China. Zhihu, a knowledge sharing platform, raised $100 million series D in January as well as Shanghai Baijiulin secured RMB160 million ($23 million).

The three-year-old company claims that it has six million users on its content platform through a WeChat public account, a mobile app and audio shows. It targets to generate the revenue of RMB200 million ($29 million) this year.

New Oriental is the largest private educational services in China. In the report released by Goldman Sachs on May 16, it upgraded New Oriental’s shares from a neutral rating to a buy rating. Many institutional investors including Comerica Bank, Greenwoods Asset Management and First Personal Financial Services also recently boosted their stakes in New Oriental significantly.

Also read:

China: Greenwoods Investment leads $18.2m Series C in e-learning biz Entstudy

China: Education startup Makeblock closes $30m Series B round

China: Banyan Capital backs education startup; Nokia Partners invests in fitness app

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.