Udemy an online learning company’s market cap is valued at $3.7 Billion. This comes after the firm has been listed on the Nasdaq, New York Tech Stock Exchange.
Online learning company Udemy Inc which has grown rapidly over the past year due to a surge in demand for online learning, was valued at $3.7 billion after its shares opened 7% below offer price in their Nasdaq debut on Friday, reported Reuters.
According Reuters, the online learning platform is the latest in a string of online education firms which have gone public this year, joining the likes of Coursera Inc and Nerdy Inc looking to cash in on the demand during the COVID-19 pandemic.
The company launched a direct-to-consumer subscription earlier this year, an offering that is still in beta testing mode.
Its corporate training offering, Udemy Business, counts PayPal Holdings Inc, Citigroup Inc, Jaguar Land Rover and Tata Consultancy Services among its customers.
Udemy which offers 183,000 courses on its platform in 75 languages across 180 countries.
The platform competes with the likes of Pluralsight, Skillsoft Corp and LinkedIn Learning for its corporate training business and with Coursera and edX in its consumer-facing marketplace.
The company sold 14.5 million shares priced at the top end of a price range announced earlier, raising nearly $421 million, reports Reuters.
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