Best Of
Re: Leadership Update: A New Chapter
Devastating. The one person that sincerely tried to listen and understand the Instructor community is leaving. Well, she has a lot of friends. Be well and wonderful Genefa. Please reach out if I can support.
@ZaneVella repeating my comment above because I am not sure it tagged you. Let me cry into the wilderness again. If you have not already, please read the following posts. Or if you have, perhaps there would be great value from reading them again. I notice from yesterday's earnings call that the Net Dollar Retention (NDR) is down to 93%. This is exactly what I predicted in my second post below. Given this prediction is coming true, may I suggest the reasons I predicted it are likely true as well?
Nov 3 2023 - Udemy Executives: The Animal Spirit Cost Of The Revenue Reduction
Feb 19 2024 - Udemy Executives: Internal Strategy Contradiction & Measurement Check
Udemy cannot create success by riding their existing stable of horses into the ground. Udemy should have a near magical reputation among content creators. There should be a massive gravity of opportunity pulling in the very best talent from around the world. That is not the case. A successful future starts by understanding the past. I put my heart and soul into the above two posts to try to help.
I had a zoom call with former CEO Greg B after the first post above. I made several key points. Of course, that is all vanished in the wind now. I would love a call with Hugo if possible. An NDR looks to me like a plane with a glide path that is enormously concerning. Maybe it is time to consider the value of my posts.
Re: PP revenue Added
@LindsayMarsh I had the same thought when looking at my PP revenue. We're seeing here directly into the percentage reduction, which is also true for UfB.
At 50% it felt fair. We supplied the product, and Udemy provided the platform and marketing.
When it first dropped, the question for many of us was the value we had in continuing to market to a large crop of existing students. That was still worth it.
Now at 17%, soon to be 15%, Udemy has forced us to ask ourselves if they are truly providing $2,000.00 worth of value, and we are providing $438.00.
I think we are seeing the effects of Udemy focusing on the macro (customer retention), while ignoring the micro (instructor incentives). It has helped make them profitable, but they are breaking their supply chain (us) which will hurt them.
At the macro level Udemy is currently ok (profitable), but that won't last if the suppliers of their product walk away.
Re: Leadership Update: A New Chapter
@GenefaMurph976 It's sad to see you leave the company. I believe you brought great value to the instructors at this forum.
I wish you all the best in your new career. 😀
