17 Education & Technology Group, which provides K-12 education services in China, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
17 Education & Technology's smart in-school classroom solution delivers data-driven teaching, learning, and assessment products to teachers, students, and parents across 70,000+ K-12 schools. The company covered approximately 56% of the primary schools, 60% of the middle schools, and 7% of the high schools using smart in-school classroom solutions in China in the 1H20.
The Beijing, China-based company was founded in 2012 and booked $151 million in revenue for the 12 months ended September 30, 2020. It plans to list on the Nasdaq under the symbol YQ. 17 Education & Technology Group filed confidentially on September 16, 2020. Goldman Sachs, Morgan Stanley and BofA Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
