Do you want to know who owns Udemy? Maybe you have heard conflicting information and want to know what is true. Or are you curious and want to know more? No matter the reason that brought you here, we have the answers for you!
Working out who owns Udemy can be tricky, especially these days. The internet is full of false information and contradicting answers, leaving you unsure where to turn or who to trust.
You spend hours searching, but never get the answers you need. Frustrated and disappointed, you wonder if you will ever know who owns Udemy.
Well, no more! Today, we are here with the answers you need. Keep reading to find out who owns Udemy and everything else you need to know about the ownership of Udemy.
We have all the answers you need below that who is the owner of Udemy, so let’s get started!
What Is Udemy?
Before we dive in, let’s have a quick recap for those that need it. Udemy is an online educational and online learning platform packed full of useful courses.
Whether you want the learning analytics of data processing or illustration, the Udemy development platform has a course for you!
The courses are all taught by instructors with experience in the field. They range from a few years of experience to professionals at the top of their fields.
The courses are filled with pre-recorded video sessions that you can access at your own pace.
The courses are not only filled with knowledge about the topic but real-world problems that you get to solve! These provide you with a wonderful experience to take to the workplace and help you stand out against other candidates.
Udemy offers a range of free and paid courses.
It is also used by some of the world’s leading companies like Eventbrite and VW to help keep their employees trained and aware of the latest technologies and trends.
It’s a fantastic place for you to access courses from around the globe!
Now that we have briefly established what Udemy’s mission is, let’s move on to see who owns it and everything else you need to know.
Who Owns Udemy?
Udemy is owned by its founder Eren Bali. Bali founded the company in 2010 alongside Oktay Caglar and Gagan Biyani.
They founded Udemy intending to provide a live virtual classroom where students across the world could learn new skills and improve their chances of employability.
Since 2019, Udemy has been headed by (Chief Executive Officer) CEO Gregg Coccari, who is running the show.
Although Udemy is owned by its founders, they don’t own their entire company. Udemy entered the stock market a few years ago, allowing people to buy shares in the company.
Currently, shareholders make up 39% of the company’s ownership. This is classed as general public ownership, where individual investors have purchased a percentage of shares in Udemy.
Another 39% is held by private equity firms. This large share of the company suggests that private equity firms and investors could have some sway over the Udemy board (including the CEO and founders).
The size might not be enough to change any company policies, but if 39% of your owners have an idea for the company or view, it’s worth listening to it.
The rest of Udemy’s ownership is made up of the following:
- 12% public companies
- 7.5% institutions
- 1.6% individual insiders
That’s quite a division of ownership! You can still purchase shares in Udemy on the stock market. It is called NASDAQ: UDMY and can be purchased through the stock market.
Udemy’s shares and their price fluctuate just like any business does on the stock market, so there is no cause for concern.
You will just want to do your research and check your budget before you start investing in shares!
How Did Udemy Start?
Udemy started from fairly humble beginnings. Their founder, Eren Bali grew up in a small and poor Turkish village.
With limited access, he studied math online, where he saw how life-changing a virtual classroom can be. The internet provided him with access to quality education, office productivity, and he wanted to ensure that others had that opportunity too.
He tried to launch the business back in 2007, where he developed the software for a live virtual classroom alongside his freelance web developer role.
It was not plain sailing for Bali, though. His venture got off to a failed start, with investors turning him down 30 times.
He managed to save funds to transfer his business to Silicon Valley, and through long hours and hard work, he managed to achieve success!
Udemy skyrocketed in its first few months, where Udemy raised $1 million!
Later Groupon investors helped to raise additional funds in the funding round and the company has been successful ever since! Sure there have been peaks and troughs, but the Udemy business seems to be here to stay!
How Does Udemy Make Money?
Udemy makes money through the fees it charges. Although there are some free courses, others need to be paid for. Students are charged for subscription access to the courses, allowing them to generate income.
Instructors are also charged a fee for using Udemy to teach their courses. For every course, they teach or sale they make, Udemy takes a fee from them. How much this cost varies for each instructor.
There is also a yearly subscription fee as well that is paid. This is paid for by businesses that use Udemy as training materials for their employees.
These B2B contracts have helped Udemy to generate more money and boost their presence!
And there you have it, Udemy is still owned by its founders. However, a large portion of the company is now owned in shares by public companies and private equity firms.
While these firms are likely to have some sway over the running of Udemy, it is difficult to determine just how much they can change the original and successful business model.