The deal may or may have a track of around $2 billion. Another person familiar with the matter said the company or the company could submit the documents in secret in the next few weeks.
NetEase, Tencent's biggest competitor in the global mobile gaming market, is deepening into other surrounding markets, from e-commerce to media content. NetEase youdao, founded in 2006, took shape five years ago after exploring a business model and developed into an Internet.educationPlatform. Currently, there are various educational services, from online dictionaries to math courses, and training courses for certification exams, and so on. According to the website, the company just completed the first round of financing last April, with a valuation of $11.2 billion after financing.
People familiar with the matter said that the review is still in its infancy and details of stock offerings, including the size and timetable of financing, may change. Spokesmen for Netease, Morgan Stanley and Citigroup declined to comment.
Netease responded that it did not comment on market rumors.