Date
20 October 2017

Alibaba to invest in TutorGroup fundraising, paper says

Internet giant Alibaba Group will invest in TutorGroup, a leading online education platform, Shanghai Securities News reported Tuesday. Singapore sovereign fund Temasek Holdings and Qiming Venture Partners are also investing in TutorGroup’s second round of fundraising. The two will have a combined investment of nearly US$100 million. TutorGroup expects China’s adult English-learning market to grow up to 25 percent a year to US$21 billion by 2016, the report said.

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