Hujiang

Hujiang was a prominent online education platform based in Shanghai, China, providing e-learning services through mobile apps, online courses, and interactive teaching platforms. At its peak, Hujiang reported over 190 million registered users and achieved a valuation exceeding $1 billion, supported by 2,443 employees and generating $372.3 million in revenue. The company raised between $187 million and $303.3 million in total funding, with notable investors including Baidu and SIG China. Founded in 2001 by Arnold Fu, Hujiang operated on a freemium model, offering language learning, exam preparation, and K-12 subjects. Despite its significant scale and two decades of operation, Hujiang's 2018 IPO attempt failed due to unsustainable unit economics, and it ultimately ceased operations in 2021 without achieving profitability.