Kaishu Jianggushi Valuation, Funding & Investors
Kaishu Jianggushi is valued at $600M as of February 2020.
Last Kaishu Jianggushi valuation
$600M
Series C · Feb 2020
Last Kaishu Jianggushi funding round
$66M
Series C · Feb 2020
Cumulative funding Kaishu Jianggushi raised
$154M
across 4 funding rounds
Key investors in Kaishu Jianggushi
Trustbridge Partners
Loyal Valley Capital
New Oriental Education
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Shanghai Kunyan Investment ManagementTemasek
Qianhai Fund of Funds
About Kaishu Jianggushi
Kaishu Jianggushi, also known as Kaishu Story, is a children's content provider specializing in storytelling. It offers audio series, animated videos, and online parenting courses through its platform accessible at kaishustory.com. The brand delivers educational narratives and interactive media tailored for young audiences in China.
Founded
2014
HQ
BeijingWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Product sales
Valuation
$600M (Feb 2020)
Kaishu Jianggushi Valuation
Kaishu Jianggushi is currently valued at $600M, based on its Series C in February 2020.
The $66M round was led by Trustbridge Partners, with participation from Temasek, Share Capital and Loyal Valley Capital.
Kaishu Jianggushi valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Feb 2020 | Series C | $600M |
Kaishu Jianggushi Funding History
Kaishu Jianggushi has raised a total of $154M across 4 funding rounds.
Kaishu Jianggushi's first fundraising round was a $13M Series B in May 2017. The most recent completed round was a $66M Series C in February 2020.
Kaishu Jianggushi funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Feb 2020 | Series C | Trustbridge Partners (lead); Temasek; Share Capital; Loyal Valley Capital | $66M | $600M | Kaishu Jianggushi, also known as Kaishu Story, is a Beijing-based online children's content provider founded in 2014 by Wang Kai, a former CCTV presenter. The company offers free and paid audio content of children's stories through its mobile app and WeChat account, and has expanded into group purchasing of complementary products including books, toys, and telescopes. In February 2020, Kaishu Jianggushi closed a Series C+ round of $66 million led by Trustbridge Partners and joined by Singapore-based Temasek Holdings and returning investor Loyal Valley Capital, with China TH Capital serving as exclusive financial advisor. This round was announced merely months after the company's July 2019 Series C funding of $50 million led by Baidu, demonstrating strong investor momentum and raising total capital across both rounds to $116 million in less than one year. Industry observers noted that the entry of foreign investors like Temasek signaled confidence in the business model's potential to expand internationally, while noting the company's strategic shift from children's content-only to a broader education platform positioning. |
| Jul 2019 | Series C | Baidu (lead); Shanghai Kunyan Investment Management; TAL Education; New Oriental Education | $50M | - | Kaishu Jianggushi, also known as Kaishu Story, is a Beijing-based podcast content production company founded in 2014 by Wang Kai, a former CCTV host, specializing in children's bedtime stories and educational audio content delivered via its app and WeChat. The company closed a USD 50 million Series C funding round in July 2019 led by Baidu, with participation from New Oriental Education & Technology Group, TAL Education Group, and Shanghai Kunyan Investment Management. This followed a March 2018 Series B+ round where it raised RMB 156 million (USD 22.68 million) at a valuation of RMB 1.6 billion (USD 232.60 million). At the time of the Series C, Kaishu Story had produced over 9,000 stories, attracted more than 30 million listeners, and achieved over 4 billion plays on its app, with average daily playback time of 50 minutes per listener. The funding aimed to enhance products and services, bolster content production, and integrate with Baidu's platforms, including smart speakers—Baidu sold 3.3 million units in Q1 2019. Baidu sought to leverage Kaishu for quality children's educational content on its apps and devices. Shortly after, in early 2020, Kaishu Jianggushi raised a USD 66 million Series C+ round led by Trustbridge Partners, joined by Temasek and prior investor Loyal Valley Capital, bringing total new investment to USD 116 million within a year. The company offers free and paid audio stories, plus group purchases for books, toys, and other products. Previous rounds included a May 2017 Series B of USD 13 million led by New Oriental and a 2018 B+ of USD 24.6 million. |
| Mar 2018 | Series B | Loyal Valley Capital (lead); Shanghai Kunyan Investment Management (lead); We Capital (lead); Trustbridge Partners; Qianhai Fund of Funds | $25M | - | Kaishu Jianggushi, also known as Kaishu Story, is a Beijing-based online children's content provider founded in 2014 by Wang Kai, a former CCTV presenter. The company offers free and paid audio content of children's stories through its mobile app and WeChat account, with content spanning audiobooks, audio series, and online parenting courses. The platform had expanded to 2,033 audiobooks and 1.5 billion plays by the time of its Series B round, with six million users across its WeChat public account, mobile app, and audio shows. The company targeted revenue of approximately $29 million USD for 2017. Kaishu Story has successfully raised capital across multiple rounds, including a $13 million Series B round led by New Oriental Education & Technology Group, a Series B+ round of 156 million yuan, a $50 million Series C round led by Baidu in July 2019, and a $66 million Series C+ round led by Trustbridge Partners with participation from Temasek Holdings in 2020. The platform has demonstrated strong user engagement, with stories listened to over 4 billion times and average daily listening time reaching 50 minutes, serving over 30 million users and broadcasting more than 9,000 content pieces by 2019. |
| May 2017 | Series B | New Oriental Education (lead); Trustbridge Partners; Zhejiang Daily Digital; iResearch Capital; Kunyan Capital | $13M | - | Kaishu Jianggushi, also known as Kaishu Story, is a Beijing-based children's content provider founded in 2013 by former CCTV host Wang Kai and Zhu Yifan. The company focuses on children's stories, offering audiobooks, audio series, and online parenting courses through a WeChat public account, mobile app, and audio shows. By the time of its Series B funding in May 2017, it had expanded to 2,033 audiobooks totaling 23,363 minutes played over 1.5 billion times, with popular titles including “Kaishu’s Journey to the West,” “Little Prince,” and “Kaishu’s 365 nights.” Kaishu Jianggushi raised RMB 90 million (US$13 million) in its Series B round on May 29, 2017, led by New Oriental Education & Technology Group, with participation from Trustbridge Partners, iResearch Capital, and Zhejiang Daily Digital Culture. The company targeted RMB 200 million (US$29 million) in revenue for 2017 and had attracted six million users to its platform. Funds were allocated to building a national children’s brand, expanding product development in children’s content, and entering the parenting industry. The investment aligned with growing interest in China's content and knowledge-sharing platforms, following raises by peers like Zhihu and Shanghai Bajiulin earlier that year. |
Who has invested in Kaishu Jianggushi?
13 investors have backed Kaishu Jianggushi across its funding rounds, including Trustbridge Partners, Loyal Valley Capital, New Oriental Education, Shanghai Kunyan Investment Management, Temasek and Qianhai Fund of Funds.
Lead investors include Trustbridge Partners, Baidu, Loyal Valley Capital, Shanghai Kunyan Investment Management, We Capital and 1 other investor.
Kaishu Jianggushi Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 Boston, MA | 3 | Lead | May 2017 | |
| Shanghai Kunyan Investment Management | Shanghai | 2 | Lead | Mar 2018 |
| Shanghai | 2 | Lead | Mar 2018 | |
| Beijing | 2 | Lead | May 2017 | |
 Singapore | 1 | Participant | Feb 2020 | |
| Guangzhou | 1 | Lead | Mar 2018 | |
| Shenzhen | 1 | Participant | Feb 2020 | |
| Hangzhou | 1 | Participant | May 2017 | |
| San Francisco, CA | 1 | Participant | May 2017 | |
| Beijing | 1 | Lead | Jul 2019 | |
| Beijing | 1 | Participant | Jul 2019 | |
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Start Free TrialKaishu Jianggushi Competitors
Kaishu Jianggushi competitors include listed companies like Jiangsu Chuanzhiboke and Gaotu Techedu, and private ones like Brightwheel, Codemao, BrightChamps and Matific.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| San Francisco, CA | Private | - | - | $600M | - | |
| China | Publicly listed | $57M | ($7M) | $540M | 6.3x | |
| China | Publicly listed | $917M | ($38M) | $503M | 0.2x | |
| Shenzhen | Private | $17M | - | $495M | - | |
| San Francisco, CA | Private | $10M | - | $450M | 45.0x | |
 Sydney | Private | - | - | $800M | - |
Kaishu Jianggushi Public Comps
Kaishu Jianggushi is still privately-owned, but its public comps include TV Tokyo Holdings, YG Entertainment, CJ ENM, Acast, NRJ Group, Scholastic, China Education, Jiangsu Chuanzhiboke, H & R Century Union and Tron.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.1B | $104M | 0.3x | 0.3x | 3.2x | 3.4x | |||
| $397M | $73M | 1.3x | 1.2x | 7.1x | 7.4x | |||
| $3.7B | $1.1B | 0.6x | 0.7x | 2.2x | 2.6x | |||
| $257M | ($1M) | 2.3x | 1.9x | (481.8x) | 25.7x | |||
| $390M | $74M | 0.3x | 0.3x | 1.6x | 1.7x | |||
| $1.6B | $180M | 0.6x | 0.6x | 5.0x | 6.1x | |||
| $1.1B | $342M | 1.6x | 1.6x | 5.1x | 3.1x | |||
| $57M | ($7M) | 8.9x | 6.3x | (67.8x) | - | |||
This data is available for Pro users. Sign up to see all Kaishu Jianggushi competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Kaishu Jianggushi
| When was Kaishu Jianggushi founded? | Kaishu Jianggushi was founded in 2014. |
| Where is Kaishu Jianggushi headquartered? | Kaishu Jianggushi is headquartered in Beijing, China. |
| Is Kaishu Jianggushi publicly listed? | No, Kaishu Jianggushi is a private, VC-backed company. |
| What is Kaishu Jianggushi's valuation? | Kaishu Jianggushi was last valued at $600M in its Series C in February 2020. |
| How much funding has Kaishu Jianggushi raised? | Kaishu Jianggushi has raised $154M across 4 funding rounds. |
| What was Kaishu Jianggushi's last funding round? | Kaishu Jianggushi's last funding round was a $66M Series C in February 2020, led by Trustbridge Partners. |
| Who are Kaishu Jianggushi's investors? | Kaishu Jianggushi's investors include Trustbridge Partners, Shanghai Kunyan Investment Management, Loyal Valley Capital, New Oriental Education, Temasek, We Capital, Share Capital, Zhejiang Daily Digital, iResearch Capital, Baidu and 3 others. |
| Which companies are comparable to Kaishu Jianggushi? | Companies comparable to Kaishu Jianggushi include Brightwheel, Jiangsu Chuanzhiboke, Gaotu Techedu, Codemao, BrightChamps and Matific. |
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