NetEase is looking to launch a $300m IPO for Youdao, which could value the Legend Holdings-backed online education services provider at $2bn.
Youdao, an online education platform spun out by China-based internet company NetEase and backed by conglomerate Legend Holdings, is looking to raise up to $300m in an initial public offering, Bloomberg reported today.
NetEase has brought in Morgan Stanley and Citigroup to run the proposed listing, which could value the business at $2bn, according to people privy to the development.
One of the sources said the company could list in the third quarter of 2019, with a separate stating it…
