As online education service Udemy prepares to market its initial public offering later this month, Udemy’s instructors are grumbling on the sidelines. They complain that their pay has been slashed in recent months as a result of changes the company made last spring to its pay scales. Those changes helped lift Udemy’s gross profits in the second quarter despite a dip in revenue from the company’s consumer segment, its biggest business.
And that in turn helped reduce Udemy’s bottom-line losses, which will be important for investors assessing the company in the coming weeks. Udemy, as The Information has previously reported, is seeking a valuation of between $6 billion and $8 billion, more than double the $3.3 billion valuation at which it raised money last November.