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  "documentTitle": "TAL Education Group (TAL)",
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  "presentationDate": "2018-06-13 00:00:00",
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  "notes": "The table tracks specific financial movements sourced from TAL's SEC filings (20-F).",
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      "text": "At the time TAL first invested in Changing Edu, it was already a portfolio company of IDG. Feng Li, whose new venture fund exited Shunshun for 8x in one year, was still with IDG at this time. He appears to have been closely involved in Changing Edu.",
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      "text": "The table below shows TAL's purported investments into Changing Edu, including the supposed return of GZ 1-1. This table does not include the recent $55 million Round D from October 2017, in which TAL also participated.",
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      "text": "References: 85, 86, 87, 88",
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      "text": "Movement of TAL's Investments in Changing Education Inc.",
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