Coursera’s Merger With Udemy

Cleary Gottlieb is representing Coursera Inc. (Coursera) on the antitrust aspects of its merger with Udemy Inc. (Udemy).

The implied equity value of the combined company is approximately $2.5 billion. 

The transaction was announced on December 17, 2025.

The transaction will allow the parties to combine their complementary strengths to ensure the company’s educational platform keeps pace with technology acceleration, and better meets the needs of learners globally.

Coursera was launched in 2012 and has 191 million registered learners as of September 30, 2025. Coursera is relied on by institutions and learners worldwide to teach and master necessary skills for their careers.

Udemy is an AI-powered skills acceleration platform, combining on-demand and multi-language content with real-time innovation to deliver personalized experiences that help scale workforce development and help individuals build career skills.

For more information, please see the press release.

The Cleary antitrust team includes partners Jeremy Calsyn, Puja Patel, and Isabel Rooms, and associates Catherine Guerrier, Alexandra Hudon, Michael Brown, Charlotte Holderied, Aleksandra Makowiecka, and Yiming Sun.