Join NexChange - the professional
network for the financial services
industry - and receive a free one-
year subscription to Forbes
Hujiang.com raises $157 million from CMI, other firms
Investment firms are still hot for online education platforms, and Hujiang.com seems to be no exemption.
Based in Shanghai, backed by Baidu, and filled with over 90 million registered users, the online school raised $157 million in its recent series D round according to China Money Network, and attracted investors as diverse as China's largest private investment fund, China Minsheng Investment (CMI), and the Hefei-based publisher, Waixin Media.
How much CMI invested in the company was disclosed however, and how much the round valued it was not divulged as well. We do know though that Hujian.com is in the process of reorganization as it prepares to go public:
“The company is in the process of corporate structure reorganization, and is planning an initial public offering inside China, according to announcements made at a press conference reported by Chinese media.”
The Hina Group, in a press release entitled – and only containing the words – Hujiang.com Raised over RMB 1 Billion with Hina as Exclusive Financial Advisor, said that Hujiang.com raised over RMB 1 billion ($157 million) with Hina as its exclusive financial advisor.
Photo: uberof202 ff