China's Leading Adult Interest Learning Service Provider QuantaSing Group Limited Successfully Listed on Nasdaq

Rhea-AI Summary

QuantaSing Group Limited, China's leading online adult interest learning service provider, successfully listed on Nasdaq on January 25, 2023, offering at $12.5 per ADS and closing at $12.52, with a market cap of $690 million. Qiming Venture Partners, an early investor, supported QuantaSing through multiple financing rounds since 2018. As of November 30, 2022, QuantaSing boasted approximately 75.1 million registered users and is recognized as the largest provider in its sector in China. The company aims to enhance lifelong learning and public literacy, aligning with national educational initiatives.

Positive

• Successful Nasdaq listing on January 25, 2023.
• Market cap reached $690 million with a closing price of $12.52 per ADS.
• Strong user base of approximately 75.1 million registered users as of November 2022.
• Recognized as the largest online adult learning service provider in China according to Frost & Sullivan.

Negative

• None.

SHANGHAI, Jan. 30, 2023 /PRNewswire/ -- On January 25, Beijing time, QuantaSing Group Limited, a Qiming Venture Partners portfolio company and China's leading online adult interest learning service provider, successfully listed on Nasdaq. QuantaSing Group Limited (NASDAQ:QSG) offered at $12.5/ADS and closed at $12.52/ADS with a market cap of $690 million.

As an early investor, Qiming led QuantaSing's Series C financing in 2018 and continued to invest in Series D and Series E financing, accompanying the company's growth and expansion along the way. The successful IPO is also the first IPO Qiming has welcomed in 2023.

QuantaSing is a provider of online learning services targeting adults. With the help of new technologies such as artificial intelligence and mobile internet, it provides users with various courses in differed fields, based on diverse user needs, including financial literacy courses, personal interest courses and talent management services, marketing services for enterprises, etc. Its branches include knowledge sharing service platforms QiNiu Academy, JiangZhen and QianChi Academy.

Under a more mature digital society, the scale and user base of "paying for knowledge" have been increasing in recent years. As of November 30, 2022, the total registered users of QuantaSing were about 75.1 million. According to Frost & Sullivan report, QuantaSing is the largest online learning service provider for adult interest learning in China, and one of the top five service providers in adult learning market in China based on revenue in 2021.

Peng Li, Founder and CEO of QuantaSing Group Limited, said, "In China, 'building a lifelong learning society for all people and a learning country' is on the agenda, and we hope that QuantaSing will become an important boosting engine for the 'learning society', helping more people fall in love with learning and gain knowledge. We will always stick to our original mission and constantly improve the quality of courses and services, practicing 'knowledge productivity' and helping improve public literacy."

About Qiming Venture Partners

Founded in 2006, Qiming Venture Partners is a leading China venture capital firm with offices in Shanghai, Beijing, Suzhou, Hong Kong, Seattle, Boston and the San Francisco Bay Area.

Currently, Qiming Venture Partners manages eleven US Dollar funds and seven RMB funds with $9.4 billion in capital raised. Since our establishment, we have invested in outstanding companies in the Technology and Consumer (T&C) and Healthcare industries at the early and growth stages.

Since our debut, we have backed over 480 fast-growing and innovative companies. Over 180 of our portfolio companies have achieved exits through IPOs at the NYSE, NASDAQ, HKEX, Shanghai Stock Exchange or Shenzhen Stock Exchange, or through M&A or by other means. There are also over 70 portfolio companies that have achieved unicorn status.

Many of our portfolio companies are today's most influential firms in their respective sectors, including Xiaomi, Meituan, Bilibili, Zhihu, Roborock, Gan & Lee Pharmaceuticals, Tigermed, Zai Lab, CanSino Biologics, Schrödinger, APT Medical, New Horizon Health, Venus MedTech, Sanyou Medical, AmoyDx, Berry Genomics, SinocellTech, Yuanxin Technology, Caidya, Belief BioMed, WeRide, Biren Technology and UBTech among many others.

Media Contact

Chloe Kou
Tel: (86 21) 6101 6512 
chloe@qimingvc.com

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SOURCE Qiming Venture Partners

FAQ

What is the significance of QuantaSing Group's Nasdaq listing on January 25, 2023?

QuantaSing Group's successful listing on Nasdaq signifies its growth and expansion in the online adult learning market, marking it as a notable investment opportunity.

How much did QuantaSing Group raise during its IPO?

QuantaSing Group priced its ADS at $12.5 during its IPO and closed at $12.52, achieving a market cap of $690 million.

What is QuantaSing Group known for?

QuantaSing Group is known for providing online learning services targeted at adults, offering courses in financial literacy, personal interests, and talent management.

How large is QuantaSing Group's user base?

As of November 30, 2022, QuantaSing Group had approximately 75.1 million registered users.

What position does QuantaSing Group hold in the Chinese online learning market?

According to a Frost & Sullivan report, QuantaSing Group is the largest online learning service provider for adult interest learning in China.