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Source: Udemy Investors page The merger is complete. That too, months before its second-half 2026 target. After three failed attempts and five months of regulatory and shareholder review, Coursera and Udemy have finally combined. Now comes the restructuring, the platform integration, and some unanswered leadership questions. The all-stock deal was first announced on December 17, 2025, and approved by stockholders on April 9, 2026. Each Udemy share was exchanged for 0.8 shares of Coursera. Udemy

In 2021, edX was acquired by 2U for $800M, stopped being a nonprofit, and the 2U integration has begun.

Coursera’s flagship credentials may carry big brand names, but who’s actually creating the content?

Subscriber growth and revenue are accelerating even as revenue per user declines. Udemy built its empire on a simple idea: anyone could create a course, and anyone could buy one. That marketplace model made Udemy famous and made millionaires out of its top instructors. Now the company is deliberately killing it. In Q3 2025 earnings call, Udemy’s CFO admitted they are “intentionally reducing” single course sales to push users toward subscriptions. The logic is straightforward: Udemy keeps 82.5%

In 2021, Udacity consolidated its enterprise focus, launched fewer free courses, but tripled scholarships.