Youdao (DAO) Announces October 25th IPO

Youdao (DAO) plans to raise $92 million in an initial public offering on Friday, October 25th, IPO Scoop reports. The company will issue 5,600,000 shares at a price of $15.00-$18.00 per share.

In the last twelve months, Youdao generated $134.6 million in revenue and had a net loss of $47.5 million. The company has a market cap of $377.2 million.

Citigroup, Morgan Stanley and Credit Suisse served as the underwriters for the IPO and CICC and HSBC were co-managers.

Youdao provided the following description of their company for its IPO: ”  Youdao makes learning happen. For over a decade, Youdao has developed and used technologies to provide learning content, applications and solutions to users of all ages. We’re the leading intelligent learning company in China with over 100.0 million average total MAUs in the first half of 2019. Starting from online knowledge tools, we currently offer a comprehensive suite of learning products and services that are accessible, reliable and trustworthy. Today, for tens of millions of people, Youdao is the go-to destination for looking up a word, translating a foreign language, preparing for an exam, and picking up a new skill. Through technology, we enrich the lives of people of all ages every day, guiding them on their journey of pursuing knowledge and sharing ideas. “.

Youdao was founded in 2006 and has 1142 employees. The company is located at No. 399, Wangshang Road, Binjiang District, Hangzhou 310051, People’s Republic of China and can be reached via phone at +86 0571-8985-2163 or on the web at http://www.youdao.com.

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