Udemy, established more than ten years ago, has sold courses to 50 million students through its digital learning platform. But the new president, Greg Brown, believes that its corporate branch is currently doubling and its opportunities are “exponentially growing,” which currently has more than 7,000 customers.
Brown said in a telephone interview that Udemy for Business, the company’s corporate learning arm, “made a $100 million ARR,” which was announced in October.
“A hundred million dollars is very conservative,” Brown said. Although he is unwilling to disclose the latest data, he hinted that revenue has increased by about 90%, which will bring Udemy for Business’s ARR to a new trajectory of $200 million.
Considering that it takes 5 years for the department to reach the $100 million ARR, it actually takes a lot less time to double it, so this is a big improvement.
Udemy declined to confirm the total number of new ARRs and instead chose to share a series of other growth indicators to show growth, including the fact that the company has registered more than 480 million courses and has more than 155,000 courses.
The startup said it has 40 million students, but according to previous interviews, the business said in 2019 that it has 50 million users. When asked about the reduction in users, Udemy said: “As the company grows, we have made some changes to the metrics to better reflect user engagement.”
Brown said: “The opportunities that the company sees do force us to redistribute resources and strategies.” Although Udemy will “continue to invest” in direct-to-consumer businesses, it believes that corporate products have greater potential.