Udemy Revenue and Growth Statistics (2023)

Key Udemy user stats. Includes data on Udemy's valuation, revenue, investments, acquisitions, number of employees, and more.
Udemy Revenue and Growth Statistics (2023)
Last updated on:
November 7, 2022

Interesting Facts about Udemy (Top Picks)

  • Udemy reported revenue of $599.22 million in 2022.
  • In a 2020 report, Udemy was valued at $3.25 billion.
  • Udemy courses surpass 213,000 in 2022.
  • Instructors on Udemy climb to 74,000+ in 2022.
  • Udemy courses enrollments rise to 773 million in 2022
  • The largest age group of users are 25 - 34-year-olds
  • Udemy.com's users are 66.63% male and 33.37% female.
  • Udemy enterprise customers meet a new milestone of 13,400+ in 2022.
  • Udemy's market cap for 2022 is $1.72 billion.
  • Udemy has raised a total of $311.4 million in funding over 16 rounds. Their latest funding was raised on Jul 15, 2021, from a Secondary Market round.
  • Udemy has made 2 investments. Their most recent investment was on Oct 14, 2022, when Bizverse raised $4.5 million.

Udemy Overview (About Company)

Udemy was founded in 2010 as an online learning website. Join us and learn key information about Udemy as website and company!

Key StatsKey Info
Date foundedMay 11, 2010
HeadquartersSan Francisco, California, U.S.
Type of IndustryE-learning
Type of BusinessPublicly Traded
Company TypeFor Profit
Type of siteOnline Education
Founder(s)Eren Bali, Gagan Biyani & Oktay Çağlar
Key peopleGregg Coccari (CEO)
Number of Employees1,238 (December 2021)
Number of Users57 million (2022)
Courses213,000+
Enterprise customers13,400+
Instructors74,000+
Courses213,000+
Course enrollments7.7 billion+
ValuationUSD740 million (2021)
RevenueUSD516 million (2021)
Available LanguageEnglish, French, Spanish, Turkish, Portuguese, German, Japanese, Polish, Korean, Russian, Italian, Chinese
Websitehttp://udemy.com/

Source: SEC, Udemy

Udemy Market Capitalization

After Udemy IPO on October 29, 2021. the company made $2.71 Billion in 2021 and ended 2022 at a $1.72 billion market cap.

Graph about Udemy Market Capitalization
YearMarket Cap.
2022$1.72 billion
2021$2.71 billion

Source: Companies Market Cap

Udemy Valuation

In a 2020 report, Udemy was valued at $3.25 billion.

Graph about Udemy Valuation

Source: Forbes

Udemy Revenue

Udemy got a revenue of $599.22 million at the end of 2022.

Graph Udemy Revenue
YearRevenue
2022$599.2 million
2021$516 million
2020$430 million
2019$276.4 million

Udemy had a very stable revenue growth from each year as of 2019.

Source: Companies Market Cap, Yahoo Finance, Macro Trends

Udemy Revenue by Segments

The 'Consumer' always earned more money for Udemy compared to the 'Business' segment. The table below shows the precise data:

Graph about Udemy Revenue by Segments
2019202020212022
Consumer$225.5 million$326.4 million$328.7 million$359.5 million
Business$50.9 million$103.4 million$187.0 million$239.7 million

As you can see, the 'Consumer' segment is by far more profitable than the 'Business' side of Udemy.

Source: Class Central

Udemy’s Profit (Loss)

Unfortunately or not, Udemy is currently not a profitable company. Ever since 2019, Udemy has been losing over $70 million.

At the same time, the loss keeps on growing from year to year. It started at $70 million lost in 2019 and jumping to $80 million lost in 2022.

YearNet Income
2021-$80 million
2020-$78 million
2019-$70 million

Source: Macro Trends

Udemy Operating Income

Udemy's operating income was at an average of $73 million lost from 2019 to 2021.

Graph about Udemy Operating Income
YearOperating Income
2021-$78 million
2020-$73 million
2019-$68 million

Source: Macro Trends

Udemy Funding

Udemy has raised a total of $311.4 million in funding over 16 rounds. Their latest funding was raised on Jul 15, 2021, from a Secondary Market round.

Announced DateTransaction NameNumber of InvestorsMoney RaisedLead Investors
Jul 15, 2021Secondary Market - Udemy3$4.4M
Dec 25, 2020Secondary Market - Udemy4
Nov 18, 2020Series F - Udemy4$50MTencent
Oct 25, 2020Secondary Market - Udemy4$33.2MMindrock Capital
Oct 10, 2020Series E - Udemy1Meros Equity Global Management
Mar 1, 2020Secondary Market - Udemy1$780K
Feb 19, 2020Series E - Udemy1$50MBenesse
Dec 31, 2019Venture Round - Udemy1SharesPost Investment Management
Aug 1, 2019Secondary Market - Udemy1Manhattan Venture Partners
Jun 2, 2016Series D - Udemy1$60MProsus & Naspers

Source: Crunchbase

Udemy Investors

36 investors fund Udemy, with SharesPro and Vershina Capital being the most recent investors.

Investor NameLead InvestorFunding RoundPartners
SharesProNoSecondary Market - Udemy
Vershina CapitalSecondary Market - Udemy
Alexander RugaevSecondary Market - Udemy
Manhattan Venture PartnersSecondary Market - UdemyJared Carmel, Rashaun Williams
Raison Asset ManagementSecondary Market - Udemy
Asas CapitalSecondary Market - Udemy
10X CapitalSecondary Market - Udemy
Changer ClubSeries F - Udemy
Learn CapitalSeries F - UdemyRobert Hutter
TencentYesSeries F - Udemy

Source: Crunchbase

Udemy Investments

Udemy has made 2 investments. Their most recent investment was on Oct 14, 2022, when Bizverse raised $4.5 million.

Announced DateOrganization NameFunding RoundMoney Raised
Oct 14, 2022BizverseSeed Round - Bizverse$4.5M
Nov 24, 2021SanjiekeSeries C - SanjiekeCN¥200M (USD27.9 million)

Source: Crunchbase

Udemy Acquisitions

Udemy has acquired 2 organizations. Their most recent acquisition was CorpU on Aug 30, 2021.

Acquiree NameAnnounced DateTransaction Name
CorpUAug 30, 2021CorpU acquired by Udemy
Sunnytrail Insight Labs (Talentbuddy)Feb 18, 2016Sunnytrail Insight Labs (Talentbuddy) acquired by Udemy

Source: Crunchbase

How does Udemy make money?

Udemy's business model is based on charging instructors a fee for each course sold on its platform. The fee ranges from 3% to 75%, depending on how the user was acquired.

Furthermore, Udemy charges a yearly subscription fee for access to the platform's content for businesses (and their employees).

Source: Product Mint

How many people work at Udemy?

The freshest data about Udemy's employees is in 2022, when the company had 6,946 employees.

Graph about Udemy number of employees
YearNumber of Employees
20226,946 employees
20213943 employees
20201,500+ employees
20191,238 employees
20181,000+ employees

Comparing each year's data, we can see how Udemy has progressively hired more people from 2018 to 2022.

Source: SEC, LinkedIn, Zippia, Rocket Reach

How many office locations does Udemy have?

Udemy has 6 office locations including its headquarters in San Francisco, United States.

CountryCityAddress
United StatesSan Francisco600 Harrison St 3rd Floor, San Francisco HQ
United StatesDenver1860 Blake St 3rd Floor
BrazilSão PauloR. Cap. Antônio Rosa, No. 409 - Vila Madalena
IndiaGurugram5th 5th Floor Two Horizon Centre DLF, Harizan Colony, DLF Phase 5, Sector 43
IrelandDublinlevel 1, 2 Windmill Ln
Turkey Üniversiteler, İhsan Doğramacı Blv No:27 D:blok k1 - 7

Source: Craft

Who founded Udemy?

Udemy was founded in 2010 by Eren Bali, Oktay Çağlar, and Gagan Biyani in USA Silicon Valley of San Francisco. The founders are three people, but Eren Bali was the leader and leader in the founding of Udemy from the beginning.

Source: LinkedIn

How many Udemy learners are there? (Users)

Udemy learners surpass 52 million in 2022.

Graph about number  Udemy learners
YearNumber of Learners
202252 million+
202149 million
202044 million
201940 million

Source: Udemy, Udemy 2, Udemy 3

How many Udemy Instructors are there?

Instructors at Udemy reach 74,000 in 2022.

Graph about number of Udemy instructors
YearNumber of Instructors
202274,000+ instructors
202164,000 instructors
202056,000 instructors
201950,000 instructors

Source: Udemy, Udemy 2, Udemy 3

How many Udemy Courses are there?

Currently, Udemy courses surpass 213,000 courses in 2022.

Graph about number Udemy courses
YearNumber of Courses
2022213,000+ courses
2021185,000+ courses
2020183,000 courses
2019130,000 courses

Source: Udemy, Udemy 2, Udemy 3

How many course enrollments are there on Udemy?

Udemy course enrollments rise to 773 million in 2022.

Graph about number of Udemy course enrollments
YearNumber of Enrollments
2022773 million course enrollments
2021680 million course enrollments
2020594 million course enrollments
2019245 million course enrollments

Source:  Udemy, Udemy 2, Udemy 3

How many Udemy enterprise customers are there?

Udemy enterprise customers reach 13,400 in 2022.

Graph about Udemy number of enterprise customers
YearNumber of Enterprise Customers
202213,400 enterprise customers
20217,000 enterprise customers
20204,000 enterprise customers

Source:  Udemy, Udemy 2, Udemy 3

How much do Udemy subscriptions cost?

  • Udemy’s paid individual courses are reasonably priced somewhere between $12.99 to $199.99.
  • Enterprise Plan: (21 or more users) = Contact sales for customized pricing
  • Team Plan: (5 – 20 users) = $360/ user/ year

Source: Udemy

How many courses are there on Udemy?

Udemy has 213,000+ online courses, covering a range of diverse topics. Courses are offered in form of videos, articles, resources, a certificate of completion, and lifetime access.

Infographic about number of courses

What are the popular courses by category on Udemy:

The Pyhton development course is the most popular one, having over 36 million students enrolled. The list below shows all of popular categories:

CategoryTop Courses/CategoryNumber of Students Enrolled
DevelopmentPython36,354,994 students
 Web Development11,415,615 students
 Machine Learning7,070,015 students
BusinessFinancial Analysis1,195,282 students
 SQL5,977,561 students
 PMP1,733,398 students
IT and SoftwareAWS Certification6,078,244 students
 Ethical Hacking10,931,066 students
 Cyber Security3,998,037 students
DesignPhotoshop10,909,736 students
 Graphic Design3,381,052 students
 Drawing2,410,849 students

Source: Udemy

What are the top 50 most enrolled courses on Udemy?

The Phyton and the AWS Certification courses are the most popular ones on Udemy. See all of them here:

CourseCategory
PythonPopular in Programming Languages
AWS CertificationPopular in IT Certifications
Web DevelopmentPopular in Web Development
ExcelPopular in Microsoft
JavaScriptPopular in Web Development
Data SciencePopular in Data Science
SQLPopular in Business Analytics & Intelligence
React JSPopular in Web Development
Microsoft CertificationPopular in IT Certifications
JavaPopular in Programming Languages
Machine LearningPopular in Data Science
AWS Certified Solutions Architect - AssociatePopular in IT Certifications
C#Popular in Programming Languages
Microsoft Power BIPopular in Business Analytics & Intelligence
Ethical HackingPopular in Network & Security
UnityPopular in Game Development
AWS Certified Cloud PractitionerPopular in IT Certifications
BlenderPopular in 3D & Animation
Amazon AWSPopular in IT Certifications
Digital MarketingPopular in Digital Marketing
CompTIA A+Popular in IT Certifications
Unreal EnginePopular in Game Development
PMPPopular in Project Management
C++Popular in Programming Languages
Data AnalysisPopular in Data Science
English LanguagePopular in Language Learning
CSSPopular in Web Development
Project ManagementPopular in Project Management
DockerPopular in Software Development Tools
Graphic DesignPopular in Graphic Design & Illustration
KubernetesPopular in IT Certifications
WordPressPopular in Web Development
Google FlutterPopular in Mobile Development
Cyber SecurityPopular in Network & Security
AngularPopular in Web Development
LinuxPopular in Operating Systems & Servers
DrawingPopular in Arts & Crafts
PhotoshopPopular in Graphic Design & Illustration
Software TestingPopular in Software Testing
TypescriptPopular in Web Development
Node.JsPopular in Web Development
CompTIA Security+Popular in IT Certifications
Cisco CCNAPopular in IT Certifications
MicroservicesPopular in Web Development
User Experience DesignPopular in User Experience Design
ScrumPopular in Project Management
MySQLPopular in Database Design & Development
AlgorithmsPopular in Software Engineering
GitPopular in Software Development Tools
Stock TradingPopular in Investing & Trading

Source: Udemy

Who are the most popular instructors on Udemy?

Rob Percival, Jose Portilla, and Phil Ebiner are the top Udemy instructors on the online learning platform. These instructors have many years of professional experience in their respective fields.

They provide a comprehensive curriculum that is highly rated by hundreds of thousands of students.

Source: Career Karma

Which country has the largest number of Udemy users? (Top 5 Pick)

The largest amount of Udemy users are located in the US and India, both countries having over 15% of the total users.

Graph about top country user of Udemy
CountryNumber of UsersPercentage
United States122,597,80015.86%
India122,211,30015.81%
Brazil434426005.62%
United Kingdom24,658,7003.19%
Turkey24,194,9003.13%
Others435,894,70056.39%

The third most popular country for Udemy is Brazil, with 5.62% of the total users.

Source: Similar Web

How much do Udemy instructors get paid?

An Udemy instructor's lifetime earnings can range from $1000 to $3,000,000, depending on the number of courses they create, the size of their audience, the quality of their courses, and how long they've been on the platform.

Sales that do not occur as a result of an instructor promotion: instructors receive 37% of the revenue for any Udemy sales that do not include an instructor coupon or course referral link.

These sales may occur after a user clicks on an Udemy advertisement or searches for courses on the Udemy marketplace.

Infographic about how much Udemy instructors paid

Source: Udemy, Online Course Host

Who are Udemy subscribers? (users demography)

Udemy users’ by gender

Udemy's users are 66.63% male and 33.37% female.

Graph about Udemy users’ by gender
GenderPercentage
Female33.37%
Male66.63%

Source: Similar Web

Udemy users’ by age

The largest age group of users are 25 - 34-year-olds

Graph about Udemy users’ by age
Age GroupPercentage
18 - 2425.05%
25 - 3436.96%
35 - 4419.37%
45 - 5410.03%
55 - 645.50%
65+3.09%

Source: Similar Web

Who are Udemy's targeted users?

  • Udemy is a for-profit massive open online course (MOOC) provider aimed at professional adults and students.
  • Udemy targets several different markets. The tutor or instructor who creates the course, the student who takes the course, and organizations that might utilize Udemy technology to create specialized courses as a branded product or for internal employee use.

Source: Startup Talky

How many app downloads did Udemy get in 2022?

The Udemy app was most downloaded on Android devices rather than on iOS devices. Combined, Udemy has over 10 million downloads.

AppNumber of Downloads
Andriod10 million+ downloads
iOS5,900+ downloads

Source: Apps Apple, Play Google

Udemy web traffic analysis

Udemy's top marketing channels

The top traffic source to is direct traffic, driving 63.16% of desktop visits, and search is the 2nd with 21.58% of traffic.

Marketing ChannelsShare
Direct63.16%
Referrals2.70%
Search21.58%
Social7.23%
Mail3.19%
Display2.14%

Source: Similar Web

Social media traffic to Udemy

The Udemy.com website gets most of its social media traffic from YouTube, followed by Facebook and LinkedIn.

Social MediaShare of Traffic
YouTube58.00%
Facebook16.29%
LinkedIn6.33%
Whatsapp Web5.35%
twitter4.15%
Others9.89%

Seeing that 58% of Udemy's traffic comes from YouTube, you might remember the times when you've seen adverts of this eLearning platform while on YouTube.

Source: Similar Web

Udemy device traffic analysis

Data shows that US users tend to use Udemy on desktop more than on mobile, whereas users from other countries enjoy using Udemy on their mobile devices more.

CountryDesktopMobile
India42.34%57.66%
United States74.14%25.86%
Nicaragua0.21%99.79%
Brazil9.58%90.42%
Turkey44.91%55.09%

Source: Semrush

What is the average time spent by users on Udemy?

The average time users spend on Udemy is 13 minutes and 43 seconds.

Infographic about average time spent by Udemy users

Is Udemy available in all countries?

Yes, as a global educational platform, Udemy is committed to providing a safe and engaging learning environment across the globe.

Source: Udemy

Udemy FAQ

  • Are Udemy courses free?

If you're new to online learning and not sure where to start, you're not alone. We've curated a free collection of courses for professionals. Take one of these courses and learn new skills.

  • Can I add the Udemy certificate to my CV?

I would say Udemy as a whole is really useful for obtaining new skills, and you could list those skills on your CV once you've completed your Udemy course. I would say since they aren't official certs leave them off your CV as having examples of your work (portfolios) speaks a lot louder.

  • Is Udemy a free certificate?

No, Udemy does not provide free certificates. Only paid approved courses offer a certificate of completion.

  • Is the Udemy certificate valid?

Free courses and courses that only include practice tests do not offer a certificate of completion. Certificates of completion help demonstrate your accomplishments, but please note, Udemy is not an accredited institution. As a result, the certificates cannot be used for formal accreditation.

FAQs

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About the author

Ch Daniel is the co-founder of SignHouse and chairman of the CH Group. Daniel is leading the development of SignHouse's product, as well as strategising how else the company can reach its main mission: empowering 100M+ to use the world's most efficient document organisational tools.

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