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Investment, Venture Capital

CCB International Invests In Weidong Cloud Education At $600M Valuation

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CCB International has led a new round of financing in Weidong Cloud Education, a Shandong province-based Internet education aggregation and purchasing platform.

The financing total of the round was not disclosed, but it values the company at RMB 4 billion (US$600 million), according to Chinese media reports.

The company says it will use the proceeds on technology upgrade, research and development and international expansion.

Launched by Chinese property, education and travel conglomerate Weidong Group, Weidong Cloud Education provides services covering K12, professional training and international education partnerships.

Users can search and purchase any education programs on its platform, which has 1,200 video classes, it says.

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