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HomeSuccess StoryUdemy Success Story: Story of Online Learning Platform

Udemy Success Story: Story of Online Learning Platform

Udemy Success Story 

Udemy success story With everything around the globe turning more and more into the online or internet-based platform, Udemy is an online learning platform that provides to its customers courses’ videos on a good vary of topics like coding, videos and photos editing, personal and professional development, software tutorials, programming courses, and the list goes on and on…

“Udemy’s rapid growth in India shows us the level of demand from students, instructors, and companies for affordable skills training. We are dedicated to our mission of improving lives through learning and expanding in India enables us to deliver on that promise,” said Gregg Coccari, CEO of Udemy.

Udemy- Company Highlights

  • Startup Name-Udemy
  • Headquarter-San Francisco, California, U.S
  • Sector-Online education
  • Industry-E-learning
  • Founders-Eren Bali, Gagan Biyani, Oktay Caglar
  • Founded-May 11, 2010
  • CEO-Gregg Coccari
  • URL-www.udemy.com

Udemy – About

It has a wide range of content and is excellent resources for instructors as well as it provides them with the platform to come forward and sell their designed courses to the people needing the same. Several courses are taught by subject matter experts in languages other than English, including Spanish, French, Japanese, Portuguese, and German.

Talking about the best course in Udemy being sold to the customers, a generic question arises, where do the courses come from? To which let me enlighten, Udemy invites instructors and teachers who want to design courses and sell them on the platform. So, Udemy not just benefits the students by providing them with the in-demand best courses at their screens by few taps, but also provides a platform to the teachers to sell them to the students.

The Evolution of Udemy Logo

The Udemy logo is made up of two elements – a symbol and a wordmark. The symbol is handwritten and organic, to emphasize the personal connections being made between our students and instructors. The wordmark, set in practical sans serif type, is the structure and substance that makes their connections possible.

Udemy – How It Works?

Udemy works on 4 major lines and aims to provide the following to its students:

Convenience :

Udemy provides its students with the freedom to choose what and when to study. If a particular course is made available on the e-learning platform, students can enroll for it whenever they want because Udemy gives lifetime access it. Moreover, there’s no set time limit, so the students get to learn at their own suitable pace.

Affordability :

Some Udemy courses are free, and some are paid start from as little as $9. There are also a variety of udemy coupons and seasonal sale and discounts which help students to register themselves in courses at dirt rates. They also have an option to choose their preferred method of payment.

Certification :

Udemy certification courses adds credibility to your career. Udemy provides various certification courses to add up new skills, upgrade your skill, and enhance your expertise. It issues a certificate of achievement to students, a mark of completion of a particular course. Certificates can be saved as a .pdf or .jpg file so that you can easily share your accomplishment. In addition, certificates can be shared on Facebook, Twitter, and LinkedIn directly from Udemy. The certificate of completion looks like this-

Udemy Certificate of Completion Sample

Udemy was launched by Eren Bali, Oktay Caglar and Gagan Biyani in early 2010. Eren Bali, Oktay Caglar and Gagan Biyani

In 2007, Udemy founder Eren Bali built a software for a live virtual classroom while living in Turkey. He saw potential in making the product free for everyone, and moved to Silicon Valley to find a company two years later.

Udemy – Mission

With a mission to improve lives through learning, it is the largest online learning destination that helps students, businesses, and governments gain the skills they need to compete in today’s economy. They enable anyone anywhere to create and share educational courses(instructors) and to enroll in these educational courses to learn(students). More than 35 million students are mastering new skills from expert instructors teaching over 130,000 online courses in topics from programming and data science to leadership and team building.

Udemy – Business Model

Udemy business model maintains a vigorous platform between instructors and students. Instructor create online courses as per their expertise and these are bought by students. It charges instructors a fee for every course sale made on its platform. The fee depends on how the user was acquired. It ranges from 3 to 75%.  Additionally, it charges students annual subscription that gives its businesses (and their employees) access to the platform’s content.

Udemy – Revenue Model

Instructor Fees

  • Instructor Promotion: The student discovers the course through a coupon or referral link issued by the instructor. In this case, the instructor receives 97 percent of the revenue. An additional administration fee of 3 percent is applied by Udemy.

For Business

Udemy For Business, as the name indicates, is tailored towards companies and their employees. Udemy for Business host courses including development, design, IT and software, data science, office productivity, management, marketing, personal development, project management, sales, among others.

Udemy – Prices

It accepts international debit and credit cards, e-payments and bank transfers. The company offers a 30-day money-back guarantee.

You can discover the frail substance and self-serving educators if you burrow. One can even let the instructor know the doubts while studying the course which the instructor/teacher answers accordingly. The doubts and questions of other users which have been already answered by the instructor also appear to the student which helps in solving their doubt at earliest.

Udemy – For Students

The flesh and bone of each course are videos. Videos generally are grouped into sections. So, a course might be 3 hours long, however, each video might not be greater than 10 minutes. This is how a course is divided into sections.

Udemy – For Instructors

In order to ensure that students have great learning experiences, Udemy also have a Quality Review Process that every course goes through.

In order to create paid courses, you’ll need an active PayPal or Payoneer account. Instructors can connect a PayPal or Payoneer account to their Udemy account. They are paid on a monthly basis.

Udemy – Expansion in India

For Udemy, after the US, India is the second largest market catering to the requirement of professionals wanting to learn new skills or upgrade their skills.

“It has started talks with both the Center and various State governments for using its platform to train their staff,” said Irwin Anand, Managing Director, Udemy India.

Udemy MD, India- Irwin Anand

“With over 20 million employees, the Government is one of the biggest sectors to be tapped. Udemy works with the Governments of Japan and Singapore.In India, we have millions of students as customers and thousands of instructors teaching students from around the world. Every year, nearly 7 million graduates pass out of colleges, but not many are employable. The traditional way of education in India is not sufficient for people to be productive at work. Udemy with its practice-oriented courses help people to learn the right skills and get into the job market,” Anand said.

Udemy – Funding and Investors

Udemy has raised a total of $223M in funding over 9 rounds. Their latest funding was raised on Feb 19, 2020 from a Series E round

Winter Capital Joins Series F Funding Round in 4th Quarter of 2020 to expand its edtech portfolio. The capital raised will enable Udemy to continue growing its consumer and business product offerings to serve the world’s students, organizations, and instructors.

Udemy: Story of Online Learning Platform

Udemy’s estimated annual revenue is currently $653.9M. It’s estimated revenue per employee is $165,000. Like any startup in growth mode, it does not share any revenue metrics with the public. Due to ongoing expansions into new markets as well as spending on product development and new hires, it can be assumed that the company remains unprofitable for now.

Udemy – Competitors

The cost of online learning is all over the map. Some companies charge a membership fee while others sell access to specific classes only. As mentioned, Teachable lets instructors sell courses at prices they set, rather than offer a membership. The Great Courses is similar. Every course is priced individually.

Udemy – Awards

Udemy has won awards at major competitions such as VatorSplash and the ASU Education Innovation Summit. Also, blogs such as TechCrunch, Mashable, ReadWriteWeb.

Udemy: Story of Online Learning Platform

Udemy is an interesting and evolving concept that focuses on the transfer of knowledge, rather than fetching a diploma. The wide variety of content and instructors available at affordable rates and the exceptionally personal pace of learning make it a very convenient method of attaining skills. With the world becoming more advanced and technophile, their businesses have huge horizons unlocked for themselves. For the time, it remains non-profitable.

Udemy – FAQs

Who are the founders of Udemy?

Udemy was founded by Eren Bali, Gagan Biyani, and Oktay Caglar.

What is Udemy?

Udemy is an online-based learning platform that provides its customers numerous courses on a variety of topics like development, business, finance and accounting, IT and software, office productivity, personal development, design, marketing, lifestyle, photography, health and fitness, music, teaching, and academics.

Is Udemy accredited?

Udemy is not an accredited institution. Each completed Udemy course includes a certificate, but the certificate can’t be used to seek formal accreditation.

How long are Udemy courses?

Every course has a specific duration associated with it. Once the course is purchased, the consumer has lifetime access to their selected courses.

What Platform is Udemy built on?

Python is the base language on which the Udemy platform is built on. For Database, Udemy uses MySQL.

Is Udemy cheap?

Udemy courses are priced based on the market, though the company does host sales(Udemy sale), and sometimes an instructor offers discounts to increase sale volume.

Is Udemy recognised?

Certificates of completion help demonstrate your accomplishments, but please note Udemy is not an accredited institution, and as a result, the certificates cannot be used for formal accreditation.

Is Udemy an Indian comapany?

No, Udemy is an American company, privately owned and headquartered in San Francisco with offices in Denver, Brazil, India, Ireland, and Turkey.