How Successful is Udemy as an online learning marketplace?
The online learning industry seems to be a really competitive one. After all, as the entire business is based online, one doesn’t even need to good enough at what they are doing, and can still start a business offering courses to people interested in learning something online.
This is probably the reason why we have witnessed such a drastic rise in the number of online scam businesses worldwide over the past few years. However, there still are businesses that stand out.
One such business, of course, is Udemy. It surely doesn’t seem to be like any other ordinary online learning marketplace. As a matter of fact, it seems to be completely dominating the online learning industry. It’s quite popular throughout the world, and hardly faces any competition from its counterparts.
Let us now take a look at some important statistics, which help us understand exactly how successful Udemy is.
Massive user base
In an industry where most of the companies are struggling to build even a reasonably sized user base, Udemy has managed to build a massive user base of well over 8 million students. This is saying something, given the fact that most of its competitors hardly seem to be having a small percentage of this figure.
Also, it’s probably worth noting that Udemy has been in this business from not a very long time, especially when compared to the other companies in the industry. Hence, it’s actually a proof of the quality of courses it offers, which has made millions of people throughout the world use it for learning something online.
Over 32,000 courses
Just like the massive number of learners, Udemy boasts of a huge user base of instructors as well. Instructors are obviously attracted to Udemy for various reasons, some of the major ones being:
- Highly rewarding revenue sharing program, allowing the instructors to make the most out of their efforts and hard work
- A massive user base of learners, meaning a tremendously high level of sales potential for the instructors
- No need to spend anything marketing the courses, as Udemy seems to be taking care of that aspect to a considerable extent
- Transparent concept, user-friendly platform
Such a huge number courses ensure that there is something on almost every topic, regardless of how small or unpopular it is. This allows learners to learn almost anything they want, something that has been one of the biggest issues associated with the other online learning marketplaces.
Furthermore, it’s also probably worth mentioning that despite such a huge number of courses being offered on Udemy, the highest quality standards are followed, and the courses are genuinely useful.
This is something that Udemy’s way of functioning itself ensures. To give a better idea of what we mean, let us take a look at the following points.
- Udemy offers a 30 day money-back guarantee to its learners, meaning there’s no room for instructors offering low quality content
- Allows learners to check get an overview of the course
- High level of transparency allows learners to check the reviews a particular course gets by its past learners
Huge amount of investments
Udemy’s growth rate has been soaring ever since it was born. With its user base, revenues, profits, popularity, and so on increasing at a rather enormous rate with each passing year, it’s attracting investments of millions of dollars fairly frequently from reputed investors.
A final word
The above mentioned information is more than enough to conclude that Udemy is indeed enjoying the highest level of success in the industry. After all, in times where raising capital is so challenging, Udemy is naturally attracting a lot of investments. This simply shows that it has been pretty successful since it was started, and still has tremendous growth potential.