Tencent scraps plan to invest $150m in Chinese education firm VIPKid

Tencent scraps plan to invest $150m in Chinese education firm VIPKid

Logos of Tencent are displayed at a news conference in Hong Kong, China March 22, 2017. REUTERS/Tyrone Siu

Tencent has shelved plans to invest about $150 million to lead a fresh fundraising round for a Chinese education firm VIPKid, two people familiar with the matter said, as Beijing moved to tighten oversight of online education platforms.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter