Leading global education marketplace.

The Story

Udemy was founded by Eren Bali, Gagan Biyani and Oktay Caglar in early 2010 to make educational content available to everyone after they had worked on earlier versions of online learning in their native Turkey and seen the powerful results. After launching the company in the Bay Area and overcoming the challenges inherent in pioneering a new category, the Company began to see rapid adoption of its education marketplace by instructors and students around the world. By 2012, CEO Dennis Yang had joined the leadership team of the Company to help manage and accelerate this global expansion and continue to move the Company towards its goal of democratizing access to highly valuable educational content for users everywhere.

Ron Shah and Ken Fox got to know the Udemy team in early 2014 as the usage of the platform was continuing to accelerate. The Company’s vibrant user base, which by this point numbered in the millions, was adding and consuming content in new and existing categories in dozens of languages, and the true scope of Udemy’s opportunity to transform education was becoming clearer. As a result of this tremendous growth, Udemy’s team was beginning to think about finding a partner with a strong fundamental understanding of online content and marketplace businesses that could assist with the strategic partnerships, business development and team building that would be needed to fully achieve the Company’s mission. As it got to know our approach and philosophy over the next year, Udemy felt that Stripes’ unique combination of operating and investing experiences coupled with our proven history of actively supporting our partner companies was the right fit for what they needed in Udemy’s next chapter, which ultimately led to Stripes completing an investment in 2015. We are thrilled to have the opportunity to partner with the Udemy team in the pursuit of its lofty and admirable goal of connecting life-long students around the world with the content they need to better themselves personally, and professionally, for many years to come.