MOOC Spotlight: Udemy

by Alex Wukman, Online Courses

Launched in 2010, Udemy is an online learning platform that allows professors to host courses. The service was conceived in 2007 by Eren Bali while he was living in Turkey. He and Gagan Biyani decided to create Udemy as a way to provide the technology capabilities necessary to teach over the internet. When Bali and Biyanni tried to raise the funds to launch Udemy they were rejected 30 times because investors weren’t confident enough in the business. To solve the problem, Bali and Biyani raised funds on their own and launched Udemy in May 2010. By July 2010, 2,000 courses had been uploaded and 10,000 users had registered. They then launched a second round of venture capital financing and within two weeks had raised $500,000, they closed the round a week later, in August 2010, with $1 million in investments from 11 people.

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