Education is one of the many areas that the Internet has the potential to revolutionize an, as such, many online education platforms have been enjoying a healthy amount of attention from consumers and investors. The latest such platform comes from China, where a service known as Genshuixue has raised $50 million in series A funding led by Hillhouse Capital, which has reportedly valued the startup at $250.
SourceChinese online education platform Genshuixue announced Monday that it has raised a US$50 million series A round. The round was led by Hillhouse Capital, and reportedly values the startup at US$250 million. Genshuixue is a website and mobile app that allows users to search for courses, both local and online, in a variety of subjects from piano to SAT prep. Once they’ve picked a type of course, users can browse all of the teachers of that subject in their area. The site includes user comments and verifies details like teachers’ professional qualifications so users can be sure of what they’re getting. Once they’re done browsing their options, users can register and pay for their classes online. The site has been online for just under half a year, but in that time Genshuixue has signed up more than 70,000 teachers who offer more than 69,000 different classes to “millions” of students. According to founder Chen Xiangdong, thanks to Genshuixue the site’s most popular teacher is now generating millions in income.
