What's going on with Netease Youdao's IPO in the United States? What's the story of Netease education's listing? Netease Youdao has launched an IPO in the United States and is currently negotiating with two securities companies. Netease Youdao was founded in 2006 and entered the field of Internet Education in 2014. Its products include language translation, online education, intelligent hardware, cloud application, e-commerce shopping guide, open platform, Youdao promotion and other brands.
Last April, it announced the completion of its first strategic financing. This round of financing is led by Muhua investment and invested by Junlian capital, with a post investment valuation of US $1.12 billion.
In fact, as early as March 19 this year, Zhou Feng, CEO of Netease Youdao, publicly announced that Netease's education business division's' Netease cloud classroom 'and' China University MOOC 'projects were incorporated into Netease Youdao's product system, and Netease's Hangzhou education business was integrated into Beijing's Netease Youdao department.
At the Q1 financial report conference call in 2019, Ding Lei, CEO of Netease, also said that Netease would increase its investment in online education.
At the same time, Ding Lei also said, "first of all, in the field of education, our positioning is online courses and online education, rather than focusing on offline business like New Oriental and XRS.
Secondly, we have some unique hardware, such as the artificial intelligence pen, which can quickly obtain the weak points of students' knowledge in the process of doing problems, and then find the right medicine to solve students' problems.