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Online learning firm Udemy targets nearly $4 billion valuation in US IPO

The company is the latest in a string of online education firms looking to cash in on the demand for new listings in the US, after Coursera Inc and Nerdy Inc went public earlier this year.

October 20, 2021 / 05:01 PM IST
Source: Reuters

Source: Reuters

Udemy Inc, which has grown rapidly over the past 18 months as demand for online learning surged during the pandemic, on Wednesday set terms for its initial public offering in New York, targeting a valuation of up to $4 billion from the share sale.

The company is the latest in a string of online education firms looking to cash in on the demand for new listings in the US, after Coursera Inc and Nerdy Inc went public earlier this year.

San Francisco-based Udemy is looking to raise up to $420.5 million at the top end of its price range of $27 to $29 per share, according to a filing.

The company, which provides over 183,000 courses in 75 languages across more than 180 countries, earlier this year launched a direct-to-consumer subscription that is still in beta testing mode.

Morgan Stanley and J.P. Morgan are the lead underwriters for the offering.

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Udemy plans to list on the Nasdaq under the symbol "UDMY".
Reuters
first published: Oct 20, 2021 04:55 pm

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