• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Friday, July 18, 2025
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

Online learning Platform Udemy files for an IPO at NASDAQ

by Rohit Yadav
October 6, 2021
in Business, Markets, News, Tech, Trending
Reading Time: 2 mins read
0
Online education platform, Udemy acquired funds worth $100M reaching $3.3B valuation
TwitterWhatsappLinkedin

Udemy Inc, an online learning platform, submitted regulatory papers for an initial public offering (IPO) in the United States on Tuesday, indicating a year-over-year revenue increase fueled by the pandemic-driven rapid move toward remote learning.

You might also like

Zuckerberg, Meta Directors Settle $8 Billion Privacy Trial

Samsung Chairman Jay Y. Lee Cleared in 2015 Merger Case

Microsoft Salaries Revealed, AI Teams Earning More Than Ever Amid Strategic Shift

Source: Udemy

According to the company’s report, revenue increased 55.6 percent to $429.9 million in 2020 from the previous year. During the same time period, Udemy had a net loss of $77.6 million.

During a funding round in November of last year, the business, which did not disclose the terms of its offering, was valued at $3.3 billion. It is anticipated to be listed on the stock exchange at a considerably higher price.

The firm aims to list on the Nasdaq under the ticker “UDMY” following the IPO, with Morgan Stanley and J.P. Morgan as lead underwriters. Udemy, based in San Francisco, was founded in January 2010 as a digital learning firm that offers learners direct-to-consumer or Udemy Business (UB) access to its online course content.

Sales grew by 55.6 percent to $429.9 million in 2020, with UB sales alone increasing by 103.5 percent, and 61 percent of revenue coming from outside North America. Udemy, which is presently losing money, reported a reduced net loss of $29.4 million for the six months ended June 30, 2021, compared to a $52.5 million loss a year ago.

Gregg Coccari has been the President and CEO of Udemy since February of this year. Coccari was previously the CEO of Stella & Chewy’s, Futuredontics, and NetQuote. In more than 180 countries, the business offers more than 183,000 courses in 75 languages. It now has 44 million learners on its platform, and it anticipates its estimated addressable market to expand in multiples as the shift to online learning continues.

Competition, on the other hand, is fierce. Coursera, which has an intellectual bent, is in the same field but takes a somewhat different business approach. After Coursera (NYSE:COUR) and Nerdy (NYSE:NRDY) went public earlier this year, Udemy will be the next in a succession of online education businesses aiming to sell its shares in New York.

Udemy’s owner Prosus, which is also one of Tencent Holdings’ largest shareholders, appears to have moved a portion of its Tencent holdings into online tech learning with the $1.8 billion acquisition of developer community Stack Overflow in June.

The edtech firm is a fascinating two-part organisation, with one geared toward consumers and the other toward companies.

Udemy’s revenue increased by 55.6 percent from $276.3 million to $429.9 million between 2019 and 2020. That’s a lot of money for a firm with significant size, defined as revenues of $100 million or more. Udemy’s overall revenues in the first half of 2021 were $250.6 million, up 24.5 percent from the same period in 2020.

Tags: Gregg CoccariIPONASDAQTencentUdemyUDMY
Tweet54SendShare15
Previous Post

Apple Health leaders misled executives, punished staff members

Next Post

Apple has been summoned to pay US$46.4 million in corporate taxes in South Korea

Rohit Yadav

Hi! I'm Rohit, If you like reading about markets, technology and business, you've come to the right place. Catch me: [email protected]

Recommended For You

Zuckerberg, Meta Directors Settle $8 Billion Privacy Trial

by Anochie Esther
July 18, 2025
0
Zuckerberg

In a sudden twist that ended what could have been a landmark courtroom showdown, Meta Platforms CEO Mark Zuckerberg and several current and former directors reached a settlement...

Read more

Samsung Chairman Jay Y. Lee Cleared in 2015 Merger Case

by Anochie Esther
July 18, 2025
0
Lee

In a pivotal ruling that removes a significant legal overhang, South Korea’s Supreme Court on July 17 cleared Samsung Electronics Chairman Jay Y. Lee of all charges related...

Read more

Microsoft Salaries Revealed, AI Teams Earning More Than Ever Amid Strategic Shift

by Anochie Esther
July 18, 2025
0
Microsoft

Amid significant layoffs and an aggressive pivot to artificial intelligence, Microsoft finds itself under the spotlight once again this time not for job cuts or corporate strategy, but...

Read more
Next Post
Apple has been summoned to pay US$46.4 million in corporate taxes in South Korea

Apple has been summoned to pay US$46.4 million in corporate taxes in South Korea

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple Artificial Intelligence bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?