Comment on Baidu Invests $10.6M in Yet Another Online Education Company Innobuddy, Operator of SmartStudy and SmartPigai by Baidu Invests $10.6M in Yet Another Online Education Company Innobuddy, Operator of SmartStudy and SmartPigai | Kungpao.tv

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Baidu is taking a further step to expand to online education industry by investing in a third online education company this year. Innobuddy, the operator of online education sites of SmartStudy and SmartPigai, announced that it has secured US$10.6 million of Series A financing from Baidu at a valuation of nearly US$100 million. Launched in Feb. this year, SmartStudy is an online education platform engaged in offering preparation courses that help students to pass standardized language tests before they get enrolled in foreign universities. SmartPigai is a personalized writing and oral language improvement site with similar test-oriented focus like SmartStudy. Innobuddy is co-founded by Wei Xiaoliang and Zhai Shaocheng, two former execs from leading Chinese private education company New Oriental.