Welcome to The CITE -- a blog on Course materials, Innovation, and Technology in Education, created by Mark Nelson and now part of the Publications Department of the National Association of College Stores. CITE is a pun with multiple meanings - referring to cite as in citation, something people reference; site as in location, website, or place people go to; and sight as in foresight or looking ahead to what is coming. Comments, discussion, feedback and ideas are welcome.

Wednesday, June 17, 2015

Udemy Hits It Big with Investors

Online learning continues to attract attention from the media and investors. Just days after Google announced it was creating an online certification program in Android development with Udacity, the online course marketplace Udemy said it raised $65 million to fund international expansion.

Udemy already offers courses in 80 languages and half of the company’s existing revenue comes from students outside the United States, according to CEO Dennis Yang. The new funding will help expand its course libraries and enterprise products that companies use for employee training and education.

The Udemy platform provides tools that allow experts to create and sell courses on any topic, or provide them to students for free. Since none of the company’s courses currently offer college credit, most students take them to improve job-related skills.

“We find that the value of formal degrees is going down,” Yang said in an article for Fortune.

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