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Chinese technology giant Tencent Holdings Ltd. is confirmed to invest $150 million in VIPKid, an online English teaching and education company, according to Chinese media 36Kr.
Palfish has raised $120 million in a series C round financing, led by dianping.com Founder Zhang Tao and FutureX Capital.
Chinese online education startup VIPKid admitted that it has recently enacted a series of personnel adjustments but denied cutting 50% of its staff members across various departments