Udemy Business Summary

Udemy, Inc. (UDMY) operates as a leading global marketplace for skills development, generating revenue through a dual-segment model comprising Enterprise (Udemy Business) and Consumer offerings. The company is currently executing a strategic pivot from a transactional marketplace to a subscription-first architecture; as of early 2026, consolidated subscription revenue accounts for approximately 72% of total annual revenue, which reached $789.8 million in fiscal 2025. The Enterprise segment provides B2B technical and professional upskilling to over 16,000 customers, while the Consumer segment has transitioned toward the "Personal Plan" subscription to drive recurring revenue. In a landmark industry consolidation announced in December 2025, Udemy entered into a definitive $2.5 billion all-stock merger agreement with Coursera, expected to close in the second half of 2026. This move positions the combined entity to dominate the AI-powered learning landscape against primary competitors such as LinkedIn Learning, Pluralsight, and Skillsoft. Udemy was co-founded in 2010 by Eren Bali, Gagan Biyani, and Oktay Caglar, with Bali currently serving as a Director and strategic advisor. The leadership team is led by CEO Hugo Sarrazin, a former McKinsey senior partner and UKG executive who was appointed in March 2025 to accelerate the company’s SaaS and AI transformation. He is supported by CTO Ozzie Goldschmied, previously the CTO of Ceridian, and CFO Sarah Blanchard, who has overseen the company’s financial strategy since its 2021 IPO. Other key executives include Rob Rosenthal (President, Udemy Business) and Ramji Sundararajan (President, Consumer). The company’s governance is overseen by Independent Chairman Sohaib Abbasi, former CEO of Informatica, with significant institutional backing from major investors including Insight Partners, Prosus (Naspers), and Vanguard.