A homework app in China that instantly solves problems for students with the snap of a photo is now worth $3 billion
- A homework app in China that instantly solves problems for students when they take a picture, Yuanfudao, has raised $300 million, according to a TechCrunch report.
- The six-year-old startup has capitalized on the immense importance of academic exams for Chinese students.
- Yuanfudao is now valued at $3 billion.
A homework app in China that instantly solves problems for students when they take a picture, Yuanfudao, has raised $300 million and is now valued at $3 billion, according to a TechCrunch report.
Yuanfudao's latest round was reportedly led by Tencent, the world's largest video game publisher and a social networking giant in its own right.
The six-year-old startup has capitalized on the immense importance of academic exams for Chinese students. Yuanfudao's product offering includes live courses, practice exam questions, and its homework app that solves questions with the snap of a photo.
According to the TechCrunch report, Yuanfudao makes most of its money from its live courses.
In May 2017, Yuanfudao raised $120 million at a $1 billion valuation. To date, it has raised over $540 million.
Yuanfudao did not immediately respond to a request for comment.
NOW WATCH: These are the top 7 smartphones of 2018
- A SpaceX flight attendant said Elon Musk exposed himself and propositioned her for sex, documents show. The company paid $250,000 for her silence.
- WazirX receives 1023 requests for data from law enforcement in October-March 2022
- Elon Musk was dating Amber Heard and finalizing a divorce around the time he's said to have sexually harassed a SpaceX flight attendant
- Researchers develop a virus that works even when iPhone is switched off
- Supreme Court of India extends time for submitting Pegasus probe report
- Chopper services launched in Goa for tourists, locals
- Both Ambuja Cements and ACC are bet worth investing with strong parent Adani
- Reserve Bank to pay ₹30,307 crore dividend payment to Centre for FY22