Baidu Acquires Online Education Platform Chuanke.Com


Chinese search engine operator Baidu Inc. has acquired Chinese online education platform Chuanke.com, according to Chinese media reports.

Details of the transaction are not disclosed.

Founded in 2011, Chuanke.com received several millions RMB angel investments from K2 Ventures and Ameba Capital in 2011. It received several million U.S. dollars series A financing from Bertelsmann Asia Investments in 2012. Later that year, it received US$10 million series B financing from Baidu.

China’s education sector has seen a number of venture investment deals lately. Last month, Beijing-based online education platform Yuantiku.com completed US$15 million new round of financing from Matrix Partners China and IDG Capital.

Around the same time, Beijing-based educational institution Universal Education Group received tens of millions U.S. dollars in series C financing from Baidu.

China Money Network Subscription
 

RELATED NEWS