Ape Tutoronline Education completed a new round of $1 billion in financing, led by Gao Yu Capital, Tencent, Boyu Capital and IDG Capital, which were valued at $7.8 billion. The financing is the largest ever raised by the education industry, and since the closing, Ape Mentor becomes the highest-valued education brand among the education industry’s unlisted companies. Earlier,media reported that Ape Coach is about to complete a new round of financing, estimated at about $7.5 billion.
Founded in 2012, Ape Coaching is dedicated to using technology to help students improve their learning experience, stimulate their interest in learning, and more easily access high-quality educational resources, and has access to IDG Capital, Latitude China, New Horizon Capital, Chinese Cultural Industry Investment Fund, Huaping Investment Group and Tencent Investment.
Under the outbreak, online education ushered in new development opportunities. Ape tutoring has donated 10 million yuan to help Wuhan, the introduction of free live classes, and open all of its learning products of the core functions, to help the country’s primary and secondary school students winter vacation extended at home study. From January to mid-March, Ape Coaching ranked first in-app “educational” in-app purchases in china’s app store, according to App Annie, a market research firm.
Shortly before this, ape tutoring announced the launch of the “spring recruitment plan for the whole society”, will open more than 10,000 jobs to the whole society, including the company’s ape tutoring network courses, ape questions, small ape search, small ape mouth calculation, zebra AI class and other products and business, involving research and development, teaching, products, operations, markets and other fields.
According to official disclosure, the company has been serving more than 400 million users in the eight years since it was founded.