Alibaba-backed education tech start-up hires CFO ahead of likely US IPO

Alibaba-backed education tech start-up hires CFO ahead of likely US IPO

The Edge Markets - World·2021-03-24 05:02

(March 23): Chinese online tutoring platform Zuoyebang has recruited a senior executive from Nasdaq-listed Joyy Inc. to become its chief financial officer as the high-flying startup prepares for an initial public offering, according to people familiar with the matter.

Bing Jin, who is scheduled to step down as CFO of the live-streaming firm next month, is expected to shepherd Beijing-based Zuoyebang through its possible stock market debut, the people said. The education startup backed by Alibaba Group Holding Ltd. is particularly interested in Jin’s experience in American capital markets, its preferred listing venue, they said, asking to not be identified because the matter is private.

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