Exclusive: Instacart Cuts Staff, Curbs Hiring in Run-up to IPORead Now

A high school student works on a laptop computer at home during a remote learning day. Photo by Bloomberg

Online Learning Company Udemy Plans October IPO

Photo: A high school student works on a laptop computer at home during a remote learning day. Photo by Bloomberg

Udemy, a San Francisco–based startup that sells online courses to individuals and businesses, is preparing to file paperwork for an initial public offering whose listing could come as soon as next month, according to two people with direct knowledge of the matter. The company, which raised $50 million at a $3.3 billion valuation in November, is targeting an initial valuation of between $6 billion and $8 billion, one person said.

After the coronavirus pandemic pushed more people to experiment with online learning, education technology companies have tried to capitalize on the new growth to raise money from outside investors. Online learning companies Coursera and Duolingo went public earlier this year. Meanwhile, private edtech startups have raised a record $14 billion this year, topping last year’s decade-high of $12.8 billion, according to financial data firm PitchBook.

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