Baidu’s smart device and edtech bets seek fresh funds, multibillion-dollar valuations

//Baidu’s smart device and edtech bets seek fresh funds, multibillion-dollar valuations

Baidu’s smart device and edtech bets seek fresh funds, multibillion-dollar valuations

Baidu’s smart device unit and online education platform Zuoyebang – which spun off from the Chinese search engine giant in 2015 – are both seeking new funds, with each said to be expecting to be worth billions of dollars after their latest funding rounds.On Tuesday, Baidu announced that it smart device unit, Smart Living Group (SLG), had entered into a definitive agreement with CPE, Baidu Capital and IDG Capital for Series A financing at a post-money valuation of about 20 billion yuan (US$2.9…

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By | 2020-10-01T09:15:17+00:00 October 1st, 2020|Business|Comments Off on Baidu’s smart device and edtech bets seek fresh funds, multibillion-dollar valuations