Online learning platform Udemy Inc 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 per cent 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.
Udemy is the latest in a string of online education companies looking to list their shares in New York, after Coursera Inc and Nerdy Inc went public earlier this year.
Morgan Stanley and J.P. Morgan are the lead underwriters for the IPO, after which the company plans to list on the Nasdaq under the symbol "UDMY."
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