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Gaotu Techedu

EdtechChina
📉 Public < $1B
Peak $13 BillionToday
~-93%
from peak
  1. 🦄
    Became a unicorn
    2020
  2. 📈
    Peak valuation
    $13 Billion ’21
  3. 💔
    Became a Unitard
    2021
  4. 💸
    Last valuation
    ~$910M
Current status
Public sub-$1B small-cap

How it happened

Gaotu Techedu (formerly GSX/Gaotu) was a Chinese online tutoring company that reached a ~$13B valuation in 2021. China's 2021 'double reduction' crackdown on for-profit private tutoring devastated the after-school education sector and its business model. Combined with broader post-IPO declines, its market value fell roughly 93%, leaving it a sub-$1B small-cap.

Source: SCMP; 2021 crackdown