On December 28, Homework Group announced the completion of a new round of financing, with an amount exceeding US$1.6 billion. Investors include new and old shareholders such as Alibaba, Tiger Fund, Sequoia, SoftBank, and Fountain Capital. This is the second round of financing completed by Homework Group this year. As early as special database June this year, Homework Group received a financing of US$750 million, led by Fountain Capital, Tiger Global and other institutions.
The two financings totaled 2.35 billion US dollars, equivalent to more than 15 billion yuan. Online education is one of the few industries that has exploded after the epidemic in 2020. The epidemic forced people to dare not go out, and children could not go to special database school, so classes were transferred online. The imagination space of online education is suddenly opened, and the traffic is flooded. Homework Gang said more than 33 million primary and secondary school students listened to free classes from February to March. Capital has the best sense of smell. Throughout 2020, more than 50 billion funds flowed into the education industry.
A record high and a five-fold increase over 2019. What is the concept of 50 billion a year? "Mantis Finance" cites two data horizontally. Didi has burned money for six years in the online car-hailing war. CEO Cheng Wei said in an internal letter that he lost 37 billion yuan. The ten-year long video battle between the three Aiyouteng companies has burned a special database total of 100 billion yuan. Under the heavy capital bet, it is the rush of online education companies such as Homeworkbang in 2020. However, the homework help has no worries.