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Tiger, KTB Invest $40m in Education Site
Xueersi.com, a Beijing-based educational training site focused on primary and middle school students, has received second-round funding of $40 million from Tiger Global Management and KTB Ventures, reports ChinaVentures quoting the company's September 5 announcement. The funding will mostly go towards providing a better educational environment, modern teaching equipment and more qualified teachers, said the report.
Established in August 2003, Xueersi.com has more than 30 service centers and over 70 training schools in cities including Beijing, Shanghai and Wuhan, said the report. The school's staff and students number in the thousands and hundreds of thousands, respectively, every year, the report said.
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