VIPKid founder Cindy Mi. Photo by Bloomberg
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China’s Online Tutor Startup VIPKid Is Seeking $500 Million at $6 Billion Valuation

Photo: VIPKid founder Cindy Mi. Photo by Bloomberg

China’s online English tutor VIPKid is seeking to raise between $400 million to $500 million at a pre-money valuation of $6 billion, according to people familiar with the matter.

If successful, the financing would nearly double the education startup’s value from $3.5 billion just a year ago, after it said it raised about $500 million. The company’s backers include Coatue Management, Tencent, Sequoia Capital and Sinovation Ventures.

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