No specific transaction terms were disclosed.
After the completion of the deal, 91Waijiao’s platforms, users and staff will be absorbed into 51Talk.
Founded in 2011, 51Talk received angel investment from Chinese angel investor Xu Xiaoping, the founder of angel firm the Zhen Fund. A year later, it received several million U.S. dollar series A investment from DCM.
Beijing-based 91Waijiao also received angel investment from Zhen Fund’s Xu Xiaoping, as well as former CEO of NetEase, William Ding. The company has not raised additional funding after that.
51Talk claims that it has paid users of nearly 50,000, with 2,500 foreign language teachers and 1,000 staff.