Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

TRENDING
Mobile Game Revenue Steadily Recovering, Report Says
Henlius Biotech Raises $410 Million in Hong Kong IPO
China’s Cybersecurity Industry Expected to Grow 23% to $8.9 Billion
LATEST
AB InBev Asian IPO Price Polling Below Midpoint of Range, Again
iPhone 11 Released in China to Mixed Reception From Shoppers
Pony Ma Steps Down as Tencent Credit’s Legal Representative
Local Emissions-Cutting Projects Could Help China Surpass International Commitments: Report
Short-Term Reference Rate for Loan Pricing Edges Down
Tencent Offers Open-Source System for IoT Innovation
Chinese Smartphone-Maker, Big in Africa, Prices IPO Far Above Apple
Dajia Insurance Launches Online Shop
World’s Highest Grid Project Takes Shape on ‘Roof of the World’
Battery Giant CATL in $1.4 Billion Fund-Raising Plan
Alibaba Recruits Big-Hitters for AI Research Labs
Zhejiang Regulators May Struggle to Implement Consumer Loan Rules
Is This Chinese Local Government Using a Journalist’s Trial to Quash Dissent?
ABB Bulks Up With Huawei on Industrial Cloud
China Biologic Receives $4.6 Billion Buyout Offer
Henlius Biotech Raises $410 Million in Hong Kong IPO
Mobile Game Revenue Steadily Recovering, Report Says
China’s Cybersecurity Industry Expected to Grow 23% to $8.9 Billion
Airbus to Launch On-Demand Helicopter Services in China’s Greater Bay Area
China Oil Giants Face Uncertainties After Saudi Attacks: Sources
Insurance Giant Ping An Enters Online Education

By Zhao Runhua / Jul 12, 2019 04:15 PM / Business & Tech

Photo: IC Photo

Photo: IC Photo

Chinese insurance giant Ping An has acquired an interest in online tutoring company iTutorGroup as part of its push into education, the company said Friday.

Ping An, a major player in the financial industry, has a smaller presence in the online education sector, where competition is fierce and many companies struggle to make profits. Ping An said it’s been developing artificial intelligence technology for projects including a remote professional skill training app.

Ping An, which is listed in Shanghai and Hong Kong, said a subsidiary and an affiliate will complete the deal with iTutorGroup by injecting capital and resources, without providing more details.

iTutorGroup is the parent company of TutorABC, which allows learners in China to practice English with online tutors. Ping An said iTutorGroup’s latest valuation after four rounds of investment was $1.6 billion, and that iTutorGroup will soon offer new programs including coding, mathematics and Chinese.

Related: Chinese Property Tycoon Buys Another U.K. Private School

Share this article
Open WeChat and scan the QR code