Tsinghua University student Choong Chi Jiong taking online classes at his home in Shah Alam, Selangor. His school campus in Beijing as well as all other educational institutions in China are closed until further notice following the Covid-19 coronavirus outbreak. Pix by: Choong Chi Jiong
BEIJING/HONG KONG,: Chinese online education platform Yuanfudao is set to raise $1.2 billion in a new funding round which will value it at about $13 billion, according to two people with direct knowledge of the issue.
Yuanfudao's existing investors, Tencent Holdings, Hillhouse Capital and Boyu Capital, will invest in this round, according to the people. The three are vying for a leading role in the fundraising with Tencent being the frontrunner, one of them said.
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