Tencent scraps plan to invest $150m in Chinese education firm VIPKid

Tencent scraps plan to invest $150m in Chinese education firm VIPKid

Logos of Tencent are displayed at a news conference in Hong Kong, China March 22, 2017. REUTERS/Tyrone Siu

Tencent has shelved plans to invest about $150 million to lead a fresh fundraising round for a Chinese education firm VIPKid, two people familiar with the matter said, as Beijing moved to tighten oversight of online education platforms.