Online learning platform Udemy on Tuesday filed regulatory paperwork for an initial public offering (IPO) in the United States, revealing a surge in revenue last year driven by the pandemic-led accelerated shift toward remote learning.
The San Francisco-based company’s revenue grew 55.6% to $429.9 million in 2020 from a year earlier, its filing showed. Udemy incurred a net loss of $77.6 million over the same period.
The company, which did not share the terms for its offering, was valued at $3.3 billion during a financing round in November last year. It is expected to go public at a much higher valuation.