Coursera The U.S.-based online education platform announced the acquisition of its competitor Udemy in an all-stock deal, valuing the combined company at about $2.5 billion USD, or roughly 78 billion baht, amid a slowdown in the EdTech market post-COVID. The merger is expected to complete in the second half of next year, with Andrew Ng the founder of Coursera, remaining as chairman.
This deal comes at a time when both Udemy and Coursera face market pressures. Although both companies reported revenue growth in Q3 2025, their share prices have declined, reflecting investor concerns about long-term business prospects. Udemy's stock has fallen about 35%, while Coursera's has dropped around 7%, leaving both trading well below their post-IPO peaks.
However, both companies believe that combining their platform strengths will restore shareholder confidence and unlock opportunities for short-term returns and long-term growth. Under the agreement, Udemy shareholders will receive 0.8 Coursera shares per Udemy share, valuing Udemy at about $930 million USD. Following the announcement, Coursera shares rose about 4%, while Udemy shares surged nearly 22%, signaling positive market sentiment toward the deal.
This merger positions Coursera and Udemy to better capture demand from corporate clients, especially in workforce training and upskilling in fields like artificial intelligence (AI), data science, and software development—skills increasingly vital in an era where generative AI is rapidly transforming the workplace.
As the online learning market continues expanding, particularly with AI integration, this merger will accelerate the development of AI-driven products. Coursera recently integrated its platform with OpenAI's ChatGPT ecosystem and partnered with Anthropic for content. Meanwhile, Udemy launched an "AI-powered microlearning experience," offering short, tailored lessons to fit busy lifestyles.
Both companies also see the merger enhancing their ability to adapt to labor market changes in the AI era. Under the new company, Coursera and Udemy are transitioning from online learning platforms to becoming a "Learning Infrastructure" for individuals, organizations, and the AI-driven economy. This combined entity could become the world's largest online school. As of 2025, Coursera has approximately 191 million registered learners globally, while Udemy has around 82 million.
Currently, Coursera offers access to over 10,000 courses, including Specializations and Professional Certificates developed in partnership with leading universities and industry collaborators. Udemy operates a marketplace model with more than 250,000 courses from independent instructors, including over 26,000 curated quality courses available to Personal Plan subscribers.
In the broader context of the industry, the Coursera-Udemy merger marks a clear turning point in online education—from a fragmented platform era to consolidation among major players who must combine scale, AI technology, quality content, and the ability to meet real labor market needs. Their complementary content and solutions also present significant opportunities for cost synergies.
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