Tencent invested in VIPKid in Series E round
China based online teaching company “VIPKid” has raised an undisclosed amount in a Series E funding round. The funding round was led by Chinese MNC “Tencent”. The news was announced on “”WeChat” platform, which provides platform for Chinese students to connect with North American teachers for English lessons. According to report by Wall Street Journal, this funding round would be of around $150 million. This is much lower than the VIPKid’s target of $500 million. The company claims that it has more than 700,000 students on its platform and around 90,000 North American teachers to teach these students. This is the third time when Tencent has invested in VIPKid and these funds would be used by the company to enhance their content, technology, operational efficiency and expand their user base.