Udemy, an online education marketplace offering user-generated courses, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering.
Udemy operates a two-sided marketplace where its instructors develop content to meet learner demand. Courses can be accessed through its direct-to-consumer or Udemy Business offerings, and address learning objectives such as reskilling or upskilling in technology and business, enhancing soft skills, and personal development. The company's platform provides over 44 million learners with access to over 183,000 courses in 75 languages and over 180 countries. Since inception, more than 73 million users have registered with Udemy.
The San Francisco, CA-based company was founded in 2010 and booked $479 million in revenue for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol UDMY. Udemy filed confidentially on May 26, 2021. Morgan Stanley, J.P. Morgan, Citi, BofA Securities, Jefferies, and Truist Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
