Business, Internet

Chinese English Learning Website Acquires Its Peer

Chinese online English learning platform 51Talk has acquired the entire stake in another English learning website 91waijiao, and the two platforms will now merge.

The financial terms fo the deal were not released.

After the acquisition, all 91waijiao businesses will be integrated into 51Talk and users registered on 91waijiao will also be able to enjoy services provided by 51Talk. In addition, employees of 91waijiao will soon move to the offices of 51Talk.

In September 2014, 51Talk completed its third round financing of USD55 million, which was led by Sequoia Capital. Prior to that, the company gained USD12 million investments led by Shunwei Fund in its second round of financing.

51Talk claims to currently have nearly 50,000 paid users, over 2,500 foreign teachers, and nearly 1,000 employees. On the completion of the merger, the company will become one of the online English education brands with the most learners and foreign teachers in China.

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