BEIJING, December 28 (TMTPOST) — Chinese online tutoring service provider Zuoyebang announced that it has completed E round financing, raking in over US$1.6 billion. The new round of financing is invested by Alibaba Group, TigerGlobal, SoftBank Vision Fund 1, Sequoia China and FountainVest Partners etc. Taihe Capital continues to serve as Zuoyebang's financial advisor. According to Zuoyebang, the platform now has over 50 million daily active users and over 170 million monthly active users. A total number of 800 million devices have activated Zuoyebang's service, the company said. Zuoyebang has a series of tutoring and education services in China, including Zuoyebang, Zuoyebang Livestream Class and Paperang. Zuoyebang also offers VIP service to its users. To date, Zuoyebang has over 35,000 employees in Beijing, Xi'an, Wuhan and eight other Chinese cities.