Lei Gang was born in Wafei TempleQuantum Bit Reporting Public Number QbitAI
After 20 years, Ding Lei will go to the United States to ring the bell to list.
Independent Subsidiary CompanyNetEaseThe proposal was submitted to SEC on September 30 and plans to be listed on the New York Stock Exchange. The stock code is tentative.It is proposed to raise 300 million US dollars.
This is also the first sub business of IPO under the banner of independence.
And it is also right to list.Zhou FengThe best award for the core Tsinghua computer department team, for more than 10 yearsIntelligent learningUnicorn Company.
Yes, intelligent learning company, this is NetEase youdao IPO in the self-positioning.
And in the IPO, youdao made it clear.
We are brief and concise, excerpts from the main points, and a glance at the IPO prospectus.
It is worth mentioning that AI is also the next development focus of youdao, well-known AI Daniel, Microsoft's highest-ranking Chinese executive Shen Xiangyang, also on the board of directors.
What does NetEase youdao do?
Intelligent learning, further speaking, is to use new technologies to develop products to provide learning content, applications and solutions for users of all ages.
And the development process is also from tools to products, and finally grow into a content learning platform.
It was originally a typical word tool that came online in 2007.Youdao Dictionary.
Based on the users and traffic obtained by the youdao Dictionary, NetEase launched it in 2011.Youdaoyun notesLaunched in 2012NetEase Yun classroomIn 2014, online courses for continuing education will be further launchedMOOC.
And from 2016 to 2018, a series of vertical education applications and intelligent equipment products have been released, covering the whole process and stage of education.
In the prospectus, NetEase youdao divides the business into four major sections:
Among them, the main revenue contribution is the curriculum business.
Net revenue from online courses in the first half of 2019 was 228 million yuan, compared with 158 million yuan in the same period last year, an increase of 44.3 percent over the same period last year.
It was 329 million yuan in 2018 and 115 million yuan in 2017, an increase of 186 percent over the same period last year.
Already has the large-scale profit-making ability.
Do you have the ability to earn money?
existOverall revenueThe financial data for the first half of 2017 to 2019 were released.
（只） only[经] net marginThere are still losses:
The reason for the loss is not explained, but it should be closely related to the high R & D investment and the strong operation characteristics of education.
In the first half of 2019 alone, youdao spending on R & D was 111 million yuan, accounting for 20.3 percent.
On the other hand, among the current total staff of 1142, there are 162 full-time lecturers, assistants and curriculum developers, 312 products and services operators, accounting for 41.5% of the total operation-related two parts.
And the number of 373 research and development, accounting for 32.7%.
It can also be seen that NetEase youdao can be seen in this division of employees.
What will make money in the future?
In the IPO, NetEase youdao also talks about the new opportunities that new technology is bringing.
They believe that with the promotion of mobile Internet, AI and data analysis, China's intelligent learning is becoming more and more popular.
Intelligent learning is characterized by combining technology with most aspects of the learning and teaching process to develop a more personalized, interactive and adaptive learning experience.
Intelligent learning companies can attract and benefit from a large number of loyal users by providing a comprehensive and collaborative set of learning products and services.
Among them, the impact of AI, there are also market trends to predict one or two.
According to the prospectus, China's intelligent learning industry is currently composed of online courses supported by AI, intelligent knowledge products and services, and institutional learning solutions.
And according to the third-party agency it invokes, Frost.103 billion 400 million yuanIt is expected to grow to RMB by 2023.719.8 billion yuanThe compound annual growth rate will reach 47.4%.
And technology companies are also facing the opportunity of going to sea for globalization.
It is believed that in addition to the Chinese market, other countries and regions, such as China, South Korea and the United States, have provided huge opportunities for Chinese enterprises in the field of intelligent learning because of their large population, scarce educational resources and willingness to pay for education.
He also divided intelligence learning into three stages:
Is there core technology?
So what are the core technologies of NetEase youdao?
Five items are listed in the prospectus:
Optical character recognition (OCR)It can help to realize online learning materials. And the technology is leading, the accuracy of Chinese text recognition is 97.5%, the accuracy of English text recognition is 95.3%, and the accuracy of Chinese and English mixed text recognition is 96.2%.
Language Data MiningIt is the first Chinese company using the open data training system model to complement NLP and improve the accuracy of translation.
Neural network machine translation (NMT) engineIt is claimed that the accuracy of translation is better than that of other online translation service providers in China and other countries.
voluntarilyspeech recognition(ASR) sumText-to-speech(TTS).
self-adaptionThe data analysis of learning can continuously achieve better personalized learning goals.
In addition, adaptive learning is also one of the application directions of Channel AI.
There are also five core applications of AI technology.
In short, AI will continue to be the core direction of Netease's Tao technology research and development.
Who built the Tao?
Ding Lei Tsinghua computer Department alumni.
Ding Lei did not need to speak. It was his persistence and feelings for education and his support for the right business. At present, he is the largest shareholder of the company, holding 30.1% of the shares.
But William Ding can not do without Netease Youdao, a stable, more than 10 years of adherence to the founding team.
Tsinghua Computer Department is the core.
NetEase youdao CEO Zhou Feng, with a 20.6% stake, Tsinghua computer Department 96 alumni, received bachelor's and master's degrees in computer science in Tsinghua in 2000 and 2002, respectively.
Zhou Feng is China's first batch of computer contact.
Zhou Feng also worked part-time to develop products in ChinaRen (Sohu), but unlike Wang Xiaochuan, who later went directly to Sogou to start a business, Zhou Feng chose academic at that time.
In 2002, Zhou Feng got Berkeley GRE, CMU and Dr. offer of Princeton with the score of GRE (2400 points). Finally, Zhou Feng and his girlfriend chose Berkeley UC.
After graduating from Ph.D. in 2007, Zhou Feng finally accepted the invitation to join the company. Besides CEO, he is also a senior vice president of the company.
And Zhou Feng's girlfriend at that time, now his wife, is a well-known female general in the field of the Internet.
Of course, Zhuang Li, apart from Zhou Feng and Wang Xiaochuan, is the leader of Tsinghua 96 level computer department. She and Wang Xiaochuan have been classmates since junior middle school in seven, and then they have AI Daniel He Xiaofei, and Chen Rui, B station boss.
But the reason why NetEase youdao has
Among the core executive team, Wu Yinghui, Leijin and Liu Renlei are also from Tsinghua Garden.
Moreover, it has lasted for more than ten years.
Wu Ying HuiThe vice president of Tao Youdao is a director of cloud notes and Hui Hui products network. He graduated from the Department of computer science and technology in 2004 with a master's degree. In 2005, he joined the friends of the United States as a co founder.
Lei JinCurrently, NetEase is vice president of NetEase. He joined Tsinghua computer department in 1996. He got Tsinghua CS master's degree in 2003 and joined NetEase in 2005.
Liu Ren LeiHe is now vice president of the market and also joined Tsinghua in 2007.
Therefore, it is precisely because of the snare of Tsinghua talents, this has created today's flowering and fruition.
But for Ding Lei, this is just the beginning story of NetEase's internal incubation and flowering.
NetEase cloud music, NetEase Weiyang (pig business) and NetEase AI have completed separate and independent financing.
There will be more surprises in the future in the light of pragmatic development and product style.