March 31, 2020  
Online Learning Market in China Surges: A Close-Up View from
51Talk CFO
China's online education market is booming and venture-backed Chinese edtech companies are on the rise. Silicon Dragon interviewed Min Xu, the CFO of NYSE-listed, Beijing-based 51Talk, who told me that the company's billings surged 40% in the first quarter of 2020 compared to a year ago.
He expects the company to break even this year, differentiating with competitors such as VIPKid by focusing on smaller Chinese cities and offering English-language lessons taught by Filipino teachers.

The online learning sector is projected to grow 11 percent annually to reach $341 billion by 2025, with China's market expanding the fastest by 20 percent per year. VCs have rushed in. 51Talk is backed by DCM and Shunwei.
Venture Deals
Chinese high-tech pharma company Hualan Bio is raising $292 million for its vaccine unit from Hillhouse Capital.
The human vaccine testing market is booming worldwide due to the COVID-19 outbreak. Read research report by

Venture Funds

Vickers Venture Partners has raised $200 million for its 6th venture fund. The Singapore-based firm focused on early tech investment in Southeast Asian startups and beyond is targeting $600 million for the fund.
IPOs
The 2020 IPO boom has stopped cold by the coronavirus, reports Renaissance Capital, which notes that as many as 20 IPOs have been delayed. Still, 24 IPOs raised $6.8 billion in the first quarter though less than expected.

Look for the Nasdaq IPO of China's WiMi Hologram Cloud, an augmented reality company that makes holographic products and services. The Beijing-based startup originally filed to go public last June and raise $50 million but now enters a tough market with a goal of 33 million at a $385 million market cap.
Research
The coronavirus is impacting global funding of young private companies.
CBI Insights projects that seed-stage funding will plunge 22% in Q1’20 from Q4’19.

 Noteworthy
Marc Benioff of Salesforce fame notes that he's " very impressed how the Singapore government has launched new app for contact tracing to combat spread of COVID-19. The app creates contact tracing in the nation-state in an effort to reduce the spread of COVID-19. This could be used everywhere!"

One of Qiming’s portfolio companies, Beijing-based Infervision, reached out through the UN to offer its very advanced COVID imaging products to the US but was told by Jared Kushner : we are not considering any Chinese solutions now.
VC Gary Rieschel counters, how about human solutions? Infervision does ultra fast CT scans and gives immediate results on whether COVID 19 is in the lungs.
Besides, Silicon Dragon spots that it's being used in Italy now.

Commentary
The U.S. and China should fight the coronavirus now, quarrel later:
China Institute commentary in the
South China Morning Post.
Silicon Dragon reported several ways that China and the U.S. are collaborating on vaccines and test kits to combat the virus.
Silicon Dragon
Webinar

Ask Zoom's
1st VC Bill Tai
(Almost)
Anything!
Online

April 3, 1-2pm
(Pacific Time)
Online Tickets 
available
Why did he invest in Zoom? What's his next big hit?
His tips for startups?
Ask your question!
VIP Dinners
for
Thought Leaders 
Next
Roundtable Discussion
over dinner and drinks
Keep up to date with the
latest views about
US-China relations and impact on deals, funds
and innovation.
May 14, NYC
5 Star Reviews
Speaking 
Book Silicon Dragon founder and author Rebecca Fannin for
your next event.
Next Silicon Dragon 
2020 Forums

Los Angeles, July 29
Sydney, Aug. 20
Silicon Valley, Sept. 17
Hong Kong, Nov. 4

contact events@
SiliconDragonventures.com
Golden Gate Bridge
Subscribe to Silicon Dragon News
.
Editor: Rebecca Fannin
. news@silicondragonventures.com