Shortly after leading a new round of financing in test prep service Wanxue Education, Baidu is taking another step to further its foray into online education field. The Chinese search giant reportedly fully acquired online education site Chuanke and rebranded as “Baidu Chuanke”.
TechNode learned from a person familiar with the matter that the news is true and the deal size is around US$30 million. The source disclosed that Chuanke will remain independent operation after the acquisition and being integrated into Duxuetang, the video lecture channel under Baidu.
Chuanke is a C2C online video course platform founded by former employees from leading Chinese Internet companies like Tencent and Kingsoft, offering a wide variety of contents in elementary education, IT, language learning, financial management, etc.
After receiving seed investments from Ameba Capital, the company has secured Series A funding form Bertelsmann. It is reported that Baidu has injected US$3.5 million in the startup last year.
Originally from: http://cn.technode.com/post/2014-08-06/chuanke-baidu/
Leave a comment