Matrix-Backed Babytree Receives $23.5M Investment From TAL Education

Beijing-based Chinese after-school tutoring services firm TAL Education Group says it has acquired a minority stake of Chinese pregnancy and parenting portal operator Babytree Inc. for US$23.5 million, according to a joint announcement.

Founded in 2007, Beijing-based Babytree operates and related mobile apps.

"(Babytree) will help us gain insight into early childhood development and learning, which complements and extends TAL’s existing online presence in the pre-K to college space," says TAL’s chairman and chief executive fficer, Bangxin Zhang.

In 2008, Babytree received US$10 million in venture funding from Matrix Partners China.

New York-based hedge fund Tiger Global Management and Hong Kong-based Prime Capital Management owns 9.6% and 7.1% of New York Stock Exchange-listed TAL respectively, according to the company’s latest annual report from July 2013.



China Expert Network
Caishen.Co - Primary Data for China Secondary Investment and Stock Markets