(UPDATE) Tencent-Backed Q&A Platform Hits USD2.4 Billion Valuation

(UPDATE) Tencent-Backed Q&A Platform Hits USD2.4 Billion Valuation

Liao Shumin & Liu Jing

Date: Thu, 08/09/2018 - 11:44 / source:Yicai
(UPDATE) Tencent-Backed Q&A Platform Hits USD2.4 Billion Valuation
(UPDATE) Tencent-Backed Q&A Platform Hits USD2.4 Billion Valuation

(Yicai Global) Aug. 9 -- Tencent-backed Zhihu has bagged new financing valuing the online question-and-answer community at USD2.4 billion, according to estimates from online news outlet 36Kr.

Newly formed fund company Advantech Capital led the USD270 million E-round of financing, supported by previous investors Tencent, Goldman Sachs and Capital Today, the Beijing-based unicorn said in a statement without officially confirming the new valuation.

“Zhihu will speed up the construction of a national knowledge content platform and increase investments in artificial intelligence technology, content ecology, knowledge services and commercialization,” said founder and Chief Executive Zhou Yuan.

Having first come online in 2010, Zhihu has evolved from a small knowledge-sharing community serving a limited number of users into a comprehensive content platform. The number of registered users reached 180 million as of this June, more than double the year before.

This latest round means that the company’s valuation has doubled since a D-round 18 months ago. Li Kaifu, chief executive at Sinovation Ventures revealed that the firm was valued at more than USD1 billion after the last round, which was led by Capital Today.

It's updated story from the previous report on July 19: https://www.yicaiglobal.com/news/tencent-backed-qa-platform-hits-usd25-b...

Editor: William Clegg

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Keywords: Zhihu, TENCENT, Goldman Sachs, Capital Today, Sinovation Ventures