Udemy

Founded in 2010, start-up Udemy is developing an online educational platform that "helps individuals, companies and governments acquire the skills necessary to increase their competitiveness in the modern economy." By March 2021, 35 million students use the platform. The company collaborates with 57 thousand teachers and offers 130 thousand online courses in various disciplines, including programming, data analysis, leadership development and teamwork. Headquartered in San Francisco, Udemy also has offices in Denver, Brazil, India, Ireland and Turkey.

Performance indicators

The company's revenue in 2020 grew by 55.6% compared to 2019 and reached $429.9 million, a net loss of $77.6 million.

History

2021

IPO at $3.7 billion valuation

At the end of October 2021, the online education service Udemy held an IPO. The company's market capitalization was $3.7 billion, its shares at the start of trading were 7% lower than the listing price of $29 (corresponds to the upper limit of the previously planned range). The company sold 14.5 million shares worth more than $420 million. Morgan Stanley and JP Morgan are selected as the leading underwriters of the accommodation.

Udemy is the latest in a number of online education companies to enter the exchange in 2021, joining companies such as Coursera and Nerdy seeking to make money on demand during the COVID-19 pandemic. Udemy shares opened at $27, and by the close of the exchange on November 1, the exchange rate was $29.22.

Udemy online education service conducted an IPO with an estimate of $3.7 billion

In early 2021, the company launched a subscription for consumers, which by October is in beta testing mode. Among the clients of Udemy, which offers corporate training, are PayPal, Citigroup, Jaguar Land Rover and Tata Consultancy Services. Udemy online education service offers 183 thousand courses on its platform in 75 languages ​ ​ in 180 countries, competes with PluralSight, SkillSoft and LinkedIn Learning in the field of corporate training, as well as in the consumer market with Coursera and edX.

Among the first Udemy courses were lessons on how to earn money playing online poker, and tips for getting to know women. But the founders quickly realized that programming and business skills like data science, as well as team building, are in great demand. The company receives its share from paying teachers for courses, as well as from corporate customers, including Apple and Nasdaq. She also earns on monthly training subscriptions and on a monthly subscription to a tariff plan, a pro that costs $19.99 per month.^[1]

Raising $50 million in investments, including from Winter Capital

In March 2021, it became known that the Winter Capital fund, associated with the head of Norilsk Nickel Vladimir Potanin, turned out to be one of the investors in the American company Udemy. The fund, together with Learn Capital (acted as the main investor), took part in the $50 million Series F round. The deal also involved the Chinese Internet giant Tencent.

Head of Norilsk Nickel Vladimir Potanin

The startup plans to direct the funds raised to expand the range of its products for private customers and businesses. According to Bloomberg sources, according to the results of the funding round, Udemy was valued at more than $3 billion. The company plans to attract another $100 million in investments in a new round for further business expansion.

EdTech startups are one of Winter Capital's key investment verticals. Earlier, the fund became one of the shareholders of the online educational platform SkyEng and invested in the international school of mathematics and programming "Algorithmika." The volume of the educational technology market by 2021 is estimated at $10 trillion. Winter Capital expects to maintain the growth rate of this market in subsequent years.^[2]

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