For decades, NetEase has been the perennial runner-up to the likes of Tencent Holdings in China’s evolving internet landscape. Now it is betting on a bookish computer scientist to catapult it to the top of the class in the nation’s US$36 billion online education market.
Zhou Feng, chief executive officer of NetEase Youdao, is charged with helping NetEase escape from under Tencent’s enormous shadow and find life beyond video games. The US-trained software coder hand-picked by billionaire founder William Ding Lei is creating an all-in-one learning platform to tap the lucrative space where education and technology overlap. To bankroll that expansion, the company could float Youdao, last valued at US$1.1 billion, as soon as this year.