|Type of business||Privately held company|
Type of site
|Founded||May 11, 2010|
|Headquarters||San Francisco, California, U.S.|
|Key people||Gregg Coccari (CEO)|
As of April of 2021, the platform has more than 40 million students, 155,000 courses and 70,000 instructors teaching courses in over 65 languages. There have been over 480 million course enrollments. Students and instructors come from 180+ countries and 2/3 of the students are located outside of the U.S.
Students take courses largely as a means of improving job-related skills. Some courses generate credit toward technical certification. Udemy has made a special effort to attract corporate trainers seeking to create coursework for employees of their company. As of 2021, there are more than 155,000 courses on the website.
In 2007, Udemy (you-de-mee, portmanteau of you + academy) founders Eren Bali and Oktay Caglar built a software for a live virtual classroom while living in Turkey. They saw potential in making the product free for everyone, and moved to Silicon Valley to found a company two years later. The site was launched by Bali, Oktay Caglar and Gagan Biyani in early 2010.
In February 2010, the founders tried to raise venture capital funding, but the idea failed to impress investors and they were rejected 30 times, according to Gagan Biyani. In response to this, they bootstrapped the development of the product and launched Udemy—"The Academy of You"—in May 2010.
Within a few months, 1,000 instructors had created about 2,000 courses, and Udemy had nearly 10,000 registered users. Based on this favorable market reaction, they decided to attempt another round of financing, and raised $1 million in venture funding by August.
In December 2012, the company raised $12 million in Series B funding led by Insight Venture Partners, as well as Lightbank Capital, MHS Capital and Learn Capital, bringing Udemy's total funding to $16 million.
In June 2015, Udemy raised a $65 million Series D financing round, led by Stripes Group. Now Udemy joined another online learning house Skillsdox Inc of Canada to open up School of Skills in India.
On February 5, 2019, Udemy announced that the board of the company appointed Gregg Coccari as its new chief executive officer.
In February 2020, Udemy raised $50 million from long-time partner in Japan, Benesse Holdings, Inc. and announced $2 billion valuation.
Udemy is a platform that allows instructors to build online courses on their preferred topics. Using Udemy's course development tools, they can upload videos, PowerPoint presentations, PDFs, audio, ZIP files and live classes to create courses. Instructors can also engage and interact with users via online discussion boards.
Courses are offered across a breadth of categories, including business and entrepreneurship, academics, the arts, health and fitness, language, music, and technology. Most classes are in practical subjects such as Excel software or using an iPhone camera. Udemy also offers Udemy for Business, enabling businesses access to a targeted suite of over 7,000 training courses on topics from digital marketing tactics to office productivity, design, management, programming, and more. With Udemy for Business, organizations can also create custom learning portals for corporate training.
In April 2013, Udemy offered an app for Apple iOS, allowing students to take classes directly from iPhones; The Android version was launched in January 2014. As of January 2014, the iOS app had been downloaded over 1 million times, and 20 percent of Udemy users access their courses via mobile. In July 2016, Udemy expanded their iOS platform to include Apple TV. On January 11, 2020, the Udemy mobile app became the #1 top grossing Android app in India.
Massive open online course (MOOC)
Udemy has been mentioned in The New York Times, The China Post, Fast Company, the BBC, YPN[clarification needed] and TechCrunch, with Mashable noting "Udemy offers an experience that rivals the real classroom, and should prove to be a useful utility for teachers and students of all subject matters."
In 2020, Udemy Ranked on the Annual ‘Change the World’ List by Fortune Magazine.
Udemy Recognized as a 2021 Bay Area Best Place to Work.
In November 2015, Udemy was accused of publishing and profiting from pirated courses. The CEO at the time, Dennis Yang, responded to the accusations in a blog post and stated that Udemy did not profit from that instance of piracy.
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