(Reuters) Udemy Inc. has filed an initial public offering to go public on Nasdaq following a surge in online learning during the pandemic.
Udemy’s revenues rose by 55.6% to $429.9 million last year from a prior year. The company had a net loss of $77.6 million during the period.
Up to 42% of Fortune 100 firms used Udemy Business, the corporate learning service of the company as employers sought to up the skills of their employees.
Udemy projects its estimated addressable market of about $200 billion, with at least 44 million learners on the platform, to grow in multiples as online learning continues to gain popularity.
Udemy had a market cap of $3.3 billion in a November funding round and is expected to list at a higher valuation. It has at least 183,000 courses in 75 languages of over 180 countries.
The company will trade under the ticker “UDMY” once listed.
