Expanding Chinese students’ access to K12 after-school tutoring

Macquarie Capital acted as the joint bookrunner on Zhangmen
Education Inc.'s (“Zhangmen”) $US48 million initial public offering

Swipe for more
Sector Services
Sub-sector Education
Location China


Zhangmen is an online education technology company based in Shanghai, China, offering
one-to-one-after-school courses to school students aged between 3 and 18 years old.

In 2020, it was the largest online one-to-one K-12 after-school tutoring service provider in China in terms of gross billings, with a 32 per cent market share – more than that of the other top 10 providers combined.


In June 2021, Macquarie Capital acted as the joint bookrunner on Zhangmen's $US48 million initial public offering.

Zhangmen offered 4.2 million American Depository Shares (37.5 million ordinary shares), including overallotment at $US11.50. The offering was comprised of 100 per cent primary shares. Market capitalisation at offer price was $US1.8 billion.


The IPO has successfully raised $US48 million, with the funds being used by Zhangmen to expand and enhance its products and services offering, improve its technology infrastructure, and acquire new students.

Related insights

No results message:
Displayed when filters returns no results.

We couldn't find any items that match your criteria.

Please reset your filter or adjust your selection.

Service unavailable:
Displayed when filter service cannot be reached.

Sorry, this service is currently unavailable.

Please try again later.