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Castbox, a podcast firm based in San Francisco, was the most downloaded app in the U.S. in 2018, according to the research firm SenseTower. With roughly 3 million new installs last year – a 217% increase over 2017, Castbox reported revenue of $96,000. That represents a 15-times year-over-year increase from last year. IDG Capital joined investment rounds in Castbox in both 2016 and 2018.
Chinese online education platform Yuanfudao is now valued at $3 billion. The Beijing-based company currently has 200 million users, including 2 million paid subscribers. Among Yuanfudao’s products is a free app powered by artificial intelligence (AI), which allows parents to check their children’s arithmetic homework by snapping a photograph and then comparing the data to information in the database. Yuanfudao now checks or corrects up to 70 million math problems per day. IDG Capital, which first invested in the firm in 2012, recently joined Yuanfudao’s Series F round.