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.
