Tencent-backed homework app jumps to $3B valuation after raising $300M

Academic exams are a big deal in China as they determine the kind of universities, high schools and elementary schools that students get into and to a degree, the future that awaits them.
Parents are thus willing to invest generously to help their children get ahead in school. One startup capitalizing on this need is Yuanfudao,a six-year-old startup that has attracted a line of big-name investors. The company announced this week that it has raised $300 million in a funding round led by exis