DALIAN, China -- Chinese market regulators have fined a pair of major distance learning startups 2.5 million yuan ($387,000) each for engaging in false advertising and misleading consumers on pricing.
China tech
China fines SoftBank-backed ed-tech unicorn for false advertising
Zuoyebang among two industry startups slapped with $390,000 penalty
Zuoyebang, an online tutor backed by SoftBank and Alibaba, falsely claimed an association with the United Nations, according to Chinese authorities. (Photo by Shin Watanabe)
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