The company’s debut may prove to be the final major edtech IPO ahead of Byju’s eventual debut – how well Udemy performs in its public offering could impact others in its market, including some incredibly wealthy education technology players.
To understand how healthy Udemy is, we’ll have to dig into each half of its business model – we’ll also want to know what’s happening to the company’s aggregate revenue mix and which direction it’s leaning in recent quarters.
From 2019 to 2020, Udemy grew from $276.3 million in revenue to $429.9 million, or 55.6%. That’s quite a lot for a company that has already reached material scale, or revenues of $100 million and above.
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