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Softbank unit invests in Alibaba-backed online education firm

10
Mar
2014

HONG KONG (Reuters) – An online education company backed by Alibaba Group Holding Ltd said on Monday that a unit of Softbank Corp had made a strategic investment in the company for an undisclosed amount. The investment in TutorGroup from SBI Group, formerly known as Softbank Finance Group and one of Asias biggest venture capital firms, follows a capital raising of nearly $100 million for TutorGroup in February from Alibaba, Singapore state investor Temasek Inc and Chinas Qiming Venture Partners. …

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