Beijing (PingWest)—Hou Jianbin, founder and CEO of Zuoyebang, a leading online education startup, said a large amount of capital in the online education sector is "beneficial" as it will accelerate the growth of the whole industry.
Hou made the remarks in an interview during the World Economic Forum's Annual Meeting of the New Champions 2019, also known as the Summer Davos, in Dalian, Liaoning province, earlier this month.
Speaking of the booming online education sector, Hou said livestreaming courses in the kindergarten to 12th grade will continue to be a major focus and "will be the biggest contributor of monetizing" by outfits in the sector.
Founded in 2015, Zuoyebang started its business by enabling students to take pictures of their questions and search for answers. Later, it developed its major business into livestreaming courses. The platform raised $350 million in its latest series D financing last year, with top investors such as Goldman Sachs, Sequoia Capital China and GGV Capital.