Language-learning platform Udemy files for IPO with plans to list on Nasdaq under ticker 'UDMY'

Udemy, an online language-teaching platform, filed for an initial public offering on Tuesday, with plans to list on Nasdaq under the ticker 'UDMY.' Morgan Stanley and JP Morgan are lead underwriters in a syndicate of 11 banks. Proceeds of the deal will be used for general corporate purposes and working capital, although it will also be open to acquiring or investment in businesses or technologies. The company had a net loss of $29.4 million in the six months ended June 30, narrower than the loss of $52.5 million posted in the year-earlier period. Revenue rose to $250.6 million from $201.4 million. "Udemy operates a two-sided marketplace where our instructors develop content to meet learner demand," the company says in its filing documents. "Courses can be accessed through our direct-to-consumer or Udemy Business, or UB, offerings. Our platform provides over 44 million learners with access to over 183,000 courses in 75 languages and over 180 countries." Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Language-learning platform Udemy files for IPO with plans to list on Nasdaq under ticker 'UDMY'
Udemy, an online language-teaching platform, filed for an initial public offering on Tuesday, with plans to list on Nasdaq under the ticker 'UDMY.' Morgan Stanley and JP Morgan are lead underwriters in a syndicate of 11 banks. Proceeds of the deal will be used for general corporate purposes and working capital, although it will also be open to acquiring or investment in businesses or technologies. The company had a net loss of $29.4 million in the six months ended June 30, narrower than the loss of $52.5 million posted in the year-earlier period. Revenue rose to $250.6 million from $201.4 million. "Udemy operates a two-sided marketplace where our instructors develop content to meet learner demand," the company says in its filing documents. "Courses can be accessed through our direct-to-consumer or Udemy Business, or UB, offerings. Our platform provides over 44 million learners with access to over 183,000 courses in 75 languages and over 180 countries." Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.