Zuoyebang(作业帮)
Fast facts
- Year Founded
- 2014
- HQ Location
- Beijing, China
- Publicly Traded?
- No
- Overseas Operations
- No
- US Sanctions
- No
- Military Affiliation in China
- No
Valuation
Valuation was last reported on September 30, 2021.Source: Reuterswww.reuters.com/article/us-china-zuoyebang-fundraising-idUKKBN26L1DE
Employees
Source: Qichachawww.qcc.com/firm/a1c53cf3b5d165e7e165cebb0b6d9b39.html
Zuoyebang is an online education startup spun off from search-engine giant Baidu. The Beijing-based company is backed by Alibaba and the American investment firm Tiger Global.
Founded in 2014, Zuoyebang has since garnered over 170 million monthly active users and at least 50 million daily active users. Since its inception, the company has raised around $3.4 billion in funding and is now valued around $15.5 billion.
Following the introduction of new government regulations on online education companies in July 2021, Zuoyebang began working to shift its business model to comply with the new rules. In April 2022, the company announced new holistic education offerings, and also launched efforts to produce printers.
-
- Name
- Ownership
-
- Beijing Baidu Netcom Science and Technology
Source: Qichachawww.qcc.com/firm/a1c53cf3b5d165e7e165cebb0b6d9b39.html
- 46.20%
- Beijing Baidu Netcom Science and Technology
-
- Ningbo Meishan Free Trade Port Hanxin Investment Consulting
Source: Qichachawww.qcc.com/firm/a1c53cf3b5d165e7e165cebb0b6d9b39.html
- 21.90%
- Ningbo Meishan Free Trade Port Hanxin Investment Consulting
-
- Dazi Yanyue Management Consulting
Source: Qichachawww.qcc.com/firm/a1c53cf3b5d165e7e165cebb0b6d9b39.html
- 12.30%
- Dazi Yanyue Management Consulting
-
- Xiang He Capital
Source: Qichachawww.qcc.com/firm/a1c53cf3b5d165e7e165cebb0b6d9b39.html
- 11.40%
- Xiang He Capital
-
- Jifeng Enterprise Management Consulting (Shanghai)
Source: Qichachawww.qcc.com/firm/a1c53cf3b5d165e7e165cebb0b6d9b39.html
- 6.80%
- Jifeng Enterprise Management Consulting (Shanghai)
-
- Hóu Jiànbīn
Source: Qichachawww.qcc.com/firm/a1c53cf3b5d165e7e165cebb0b6d9b39.html
- 1.40%
- Hóu Jiànbīn
Zuoyebang Sanctions
While at this time it appears that this company is not the subject of any U.S. or other global sanctions, it is important to note that Chinese companies tend to have more opaque organizational structures than their Western peers. Chinese companies' affiliated brands, operating units, and overseas subsidiaries are not always obvious or even identifiable. Given this, a Chinese company may not be the subject of sanctions, but one of its subsidiaries may be, thus making it difficult to accurately ascertain a company's full sanctions status.
Zuoyebang Reputational Disclosures
Following a major reform of China’s private education sector in September 2021, China’s Ministry of Education has ordered the temporary removal of homework help apps such as Zuoyebang. In China’s 2021 National College Entrance Examination, commonly known as the gaokao, a student from Hubei reportedly tried to use the app to cheat during the Math examination. The Ministry of Education has since issue warnings that the app violated the laws of education and the provincial education administrative department are reviewing the case.
The latest news on Zuoyebang from SupChina
Beijing rolls out tuition guidelines for after-school tutoring sector
Beijing regulators issued a long-anticipated guideline on tuition fees in the after-school tutoring sector. The message: “Stop blindly expanding.”
iHuman online education company files for IPO in New York
Digital and remote learning is booming worldwide and many of the most ambitious startups in the space are in China.
The latest news on Zuoyebang from across the web
A battle of words surfaces as Zuoyebang accused of posting "obscene material" on competitor's platform · TechNode
The battle between Chinese Q&A platforms for K-12 students Yuansouti and Zuoyebang surfaced following the latter’s fresh funding news. Yuansouti accused
Beijing fines edtech giants Zuoyebang, Yuanfudao over false ads
The State Administration for Market Regulation imposed a maximum penalty of 2.5 million yuan each on Big Tech-funded Zuoyebang and Yuanfudao.
Chinese online education app Zuoyebang raises $1.6 billion from investors including Alibaba
The rivalry between China’s top online learning apps has become even more intense this year because of the COVID-19 pandemic. The latest company to score a significant funding round is Zuoyebang, which announced today (link in Chinese) that it has raised a $1.6 billion Series E+ from investors including Alibaba Group. Other participants included returning […]
Baidu-backed online tutor Zuoyebang seeks new funding at $10 billion valuation: sources
Chinese online education startup Zuoyebang has started a new fundraising drive at a valuation of $10 billion, said two people with direct knowledge of the matter, as investor appetite for the sector continues to surge amid the COVID-19 pandemic.
Chinese online tutor Zuoyebang raises $750 million in fresh round
Online tutoring startup Zuoyebang said on Monday it raised $750 million in a fresh funding round, led by investment firms FountainVest Partners and Tiger Global Management, as the COVID-19 crisis spurs investor interest in education technology.