Lessons are increasingly being conducted online because of the impact of the COVID-19 pandemic. The demand has been a boon for online education platforms. China-based Yuanfudao has raised US$1 billion in a new financing from investors such as Tencent Holdings, Hillhouse Capital Group, Boyu Capital, and IDG Capital.
WeChat has surpassed the 100 million registered user account milestone. That’s remarkable considering the strong competition it is up against.
In the last three months, it doubled its registered user account base reaching the 100 million milestone shortly after an independent survey found that the platform was the fifth most used smartphone app worldwide.
Since its international debut, WeChat has been well received in Asia, quickly becoming the most popular mobile social app in Hong Kong, India, Indonesia, and Malaysia across multiple smartphone OS platforms, where the user base has recently gained tremendous growth.