{"schema_version":"ctm-public-research-1.0","id":"udemy","name":"Udemy","ticker":"UDMY","sector":"Online education","description":"Explore Udemy’s documented private funding prices alongside its historical IPO offer, with share-conversion assumptions and sources.","coverage_note":"Preferred converts one-to-one into common. Use the financial-note prices rounded to cents. Secondary common-share tender prices and warrants are excluded.","url":"https://capitaltimemachine.com/private/udemy","publisher":"CapitalTimeMachine","dataset_revision":"ctm-research-2026-10-01","dataset_reviewed_on":"2026-09-19","feed_released_on":"2026-10-01","methodology_url":"https://capitaltimemachine.com/methodology","terms_url":"https://capitaltimemachine.com/terms","corrections":"mailto:capitaltimemachine@gmail.com","observations":[{"id":"UDMY-E","title":"Series E preferred issuance","note":"Preferred converts one-to-one into common. Use the financial-note prices rounded to cents. Secondary common-share tender prices and warrants are excluded. The displayed date is the financial reporting snapshot; it is not an investment date.","observation_date":"2021-06-30","date_precision":"day","date_role":"historical_table_snapshot","actual_entry_date":null,"value":"15.57","value_qualifier":"","currency":"USD","value_scope":"per_share_issuance_price","share_class":"Series E preferred","share_basis":"as_reported_reviewed_no_additional_split","confidence_class":"A","verification_status":"primary_verified","checked_on":"2026-09-17","source":{"url":"https://www.sec.gov/Archives/edgar/data/1607939/000119312521313334/d163445d424b4.htm","publisher":"SEC · Udemy filing","title":"IPO prospectus (Form 424B4)","locator":"Preferred-stock table: Issuance Price Per Share; Conversion"},"supporting_sources":[],"citation_url":"https://capitaltimemachine.com/private/udemy#UDMY-E"},{"id":"UDMY-F","title":"Series F preferred issuance","note":"Preferred converts one-to-one into common. Use the financial-note prices rounded to cents. Secondary common-share tender prices and warrants are excluded. The displayed date is the financial reporting snapshot; it is not an investment date.","observation_date":"2021-06-30","date_precision":"day","date_role":"historical_table_snapshot","actual_entry_date":null,"value":"24.13","value_qualifier":"","currency":"USD","value_scope":"per_share_issuance_price","share_class":"Series F preferred","share_basis":"as_reported_reviewed_no_additional_split","confidence_class":"A","verification_status":"primary_verified","checked_on":"2026-09-17","source":{"url":"https://www.sec.gov/Archives/edgar/data/1607939/000119312521313334/d163445d424b4.htm","publisher":"SEC · Udemy filing","title":"IPO prospectus (Form 424B4)","locator":"Preferred-stock table: Issuance Price Per Share; Conversion"},"supporting_sources":[],"citation_url":"https://capitaltimemachine.com/private/udemy#UDMY-F"},{"id":"UDMY-OFFER","title":"Udemy IPO offer","note":"IPO offering price is an analytical mark, not a current quote or evidence that a private holder could sell at this price.","observation_date":"2021-10-28","date_precision":"day","date_role":"offering_pricing","actual_entry_date":null,"value":"29","value_qualifier":"","currency":"USD","value_scope":"public_offer_price_per_share","share_class":"Common","confidence_class":"A","verification_status":"primary_verified","checked_on":"2026-09-17","source":{"url":"https://www.sec.gov/Archives/edgar/data/1607939/000119312521313334/d163445d424b4.htm","publisher":"SEC · Udemy filing","title":"IPO prospectus (Form 424B4)","locator":"Prospectus cover: offering price and prospectus date"},"supporting_sources":[],"citation_url":"https://capitaltimemachine.com/private/udemy#UDMY-OFFER"}],"calculation_options":{"early_stage_assumptions":null,"ipo_offer_models":[{"id":"UDMY-E-IPO","company":"udemy","start":"UDMY-E","end":"UDMY-OFFER","label":"Series E → IPO offer-price mark","conversion_factor":"1","split_adjustment":"already_reflected_do_not_apply_again","reviewed_on":"2026-09-17","basis_note":"Preferred converts one-to-one into common. Use the financial-note prices rounded to cents. Secondary common-share tender prices and warrants are excluded. Fractional share equivalents only; no sale, fees, taxes, dividends or CAGR.","source_url":"https://www.sec.gov/Archives/edgar/data/1607939/000119312521313334/d163445d424b4.htm","source_locators":["Preferred-stock table: Issuance Price Per Share; Conversion","Prospectus cover","Shares Eligible for Future Sale / Underwriting: selling restrictions"]},{"id":"UDMY-F-IPO","company":"udemy","start":"UDMY-F","end":"UDMY-OFFER","label":"Series F → IPO offer-price mark","conversion_factor":"1","split_adjustment":"already_reflected_do_not_apply_again","reviewed_on":"2026-09-17","basis_note":"Preferred converts one-to-one into common. Use the financial-note prices rounded to cents. Secondary common-share tender prices and warrants are excluded. Fractional share equivalents only; no sale, fees, taxes, dividends or CAGR.","source_url":"https://www.sec.gov/Archives/edgar/data/1607939/000119312521313334/d163445d424b4.htm","source_locators":["Preferred-stock table: Issuance Price Per Share; Conversion","Prospectus cover","Shares Eligible for Future Sale / Underwriting: selling restrictions"]}],"valuation_comparisons":[],"user_entered_private_prices":false,"entered_public_price_review":{"company":"udemy","ticker":"UDMY","issuer_cik":"1607939","model_ids":["UDMY-E-IPO","UDMY-F-IPO"],"from_date":"2024-06-10","through_date":"2026-05-08","reviewed_on":"2026-09-19","status":"reviewed_user_price_scenario","historical_only":true,"limitation":"Historical UDMY prices only. The May 11, 2026 merger converted Udemy shares into Coursera shares; the successor path is not modeled.","listed_equivalent_factor":"1","splits":[],"sources":[{"url":"https://www.sec.gov/Archives/edgar/data/1607939/000119312521313334/d163445d424b4.htm","title":"Original IPO share basis","locator":"Prospectus / offering and capital-stock terms; the existing private-to-IPO model supplies the entry conversion."},{"url":"https://www.sec.gov/Archives/edgar/data/1607939/000160793926000061/udmy-20260331.htm","title":"Issuer 10-Q · 2026-05-11","locator":"Common-stock presentation and corporate-action screening. A missing split keyword alone is not evidence of a complete history."},{"url":"https://www.stocksplithistory.com/?symbol=UDMY","title":"Supplemental split-history screen","locator":"Dated post-IPO corporate actions only. Ticker reuse can introduce unrelated pre-IPO events; those are excluded. No market quote was copied."},{"url":"https://www.sec.gov/Archives/edgar/data/1651562/000165156226000063/cour-20260630.htm","title":"Corporate event limiting this path","locator":"Historical UDMY prices only. The May 11, 2026 merger converted Udemy shares into Coursera shares; the successor path is not modeled."}],"review_note":"Entry-to-IPO conversion reuses the approved company-specific model. The post-IPO corporate-action screen matches the issuer CIK and excludes reused ticker history predating its IPO. This is a bounded price-only scenario, not a licensed quote or a certified corporate-action feed."},"public_ipo":null},"limitations":["Historical research and hypothetical arithmetic, not live quotes, investment advice or an offer to invest.","Company valuation changes are not shareholder returns. Financing, dilution, security rights and exit access matter.","IPO offer-price marks are not realized sale proceeds; minimum investments and access are not established.","User-entered prices and valuations are assumptions, not sourced observations. Fee and carry treatment is stated by each method; taxes and distributions are excluded.","Selected surviving companies are not representative of private-market outcomes; investments may lose all value."]}