On Monday, employees of Chinese online education platform Zuoyebang revealed that the company is expanding into the printer market and has set up a business arm for developing a printer business.
Beijing regulators have interviewed many leading online tutoring companies this week, asking them to stop selling courses targeted at senior high school students during winter vacation and to refund any fees paid.
Alibaba-backed Zuoyebang bags five quality education products now including three launched on Monday, one launched last year and one which will be launched soon.
The Chinese Education Ministry announced establishment of a new department to oversee after-school tutoring amid Beijing’s ongoing crackdown on China's burgeoning private tutoring industry.
Online education company Zuoyebang reportedly laid off employees and went so far as to cut entire departments due to China’s pressuring policy on the sector. The industry might face the biggest wave of layoffs during this business recession.
The Beijing Municipal Bureau of Market Supervision and Administration on Monday imposed the maximum possible penalty on online education platforms Zuoyebang and Yuanfudao for unfair competition and misleading consumers.
China’s leading online after-school education company Zuoyebang was listed among the MIT Technology Review’s 10 Breakthrough Technologies (TR10) in the “Remote Everything” segment on Feb. 26.
Last week was big for edtech fundraising news. Two of China’s largest edtech unicorns, Zuoyebang and Yuanfudao, both raised huge sums, pushing their valuations through the roof.
Leading K12 online education platform Zuoyebang was awarded by the World Economic Forum an Honorable Mention for Excellence in Digital Disruption for its first annual New Champion Awards 2020 at the World Economic Forum’s inaugural Pioneers of Change Summit.
Chinese online learning platform Zuoyebang announced on Monday it raised $750 million, demonstrating continued investor interest in China’s online education technology ecosystem.
