Education Plattform Udemy is Valued at Two Billon
Udemy, which was founded in 2010, is now one of the chief online education platforms boasting over 150,000 online courses. It recently finished its Series E round of funding which netted $50 million from existing partner Benesse Holdings and tripled its value since 2016 at over $2 billion. As for its high valuation, president of Udemy, Darren Shimkus said that “It validates a lot of the hard work we’ve done over the year and proves to us that we are on the right track.”
Benesse Holdings hopes to grow Udemy in the Japanese market. So far, Udemy has raised over $200 million from multiple investors such as Insight Partners and Norwest Venture Partners. Shimkus had this to say about the new Benesse investment, “It has gone so well, Benesse, they wanted to invest more.”
The $50 million is bookmarked to be used to expand its operations into new markets focusing on India and Brazil. The company does have offices worldwide with 600 employees. They are also expanding their San Francisco office's workforce of 300 significantly across all sections including further developing their marketing and sales teams.
All Udemy courses are made by experts across multiple fields and industries. The process is that the expert creates a course where students who are interested in the course will pay anywhere between $50 to $200 to be able to take the course. The course creator gets around half of the revenue that their course has brought in. The company and its courses have drawn in more than 50 million students and have around 57,000 expert instructors.