We announced recently that we had filed a registration statement indicating our intent to conduct an initial public offering (IPO). Instructors have played an important role in helping us reach this milestone. So, we plan to reserve 5% of the shares we intend to sell as part of our IPO for eligible instructors, who will have the option to purchase them through a Directed Share Program.
We're making this program available to Udemy instructors who:
Have at least 10 enrolled students
Remain in good standing with our Trust & Safety team
Have an active tax form on file
Reside in a country that permits participation in this kind of program
Some countries limit the number of people we can invite to a program like this. In countries with limited participation, we've determined priority of invitation by lifetime earnings on Udemy.
If you're among this group, you'll receive an email shortly with more information about the program. Please note that this program is totally optional, and you don't have to participate to continue as a Udemy instructor. While you're welcome to discuss your decision to participate with other instructors, we're in a mandatory "quiet period" where we can't allow IPO-related discussions within the official Instructor Community. So, we'll be disabling comments on this post, and continuing to archive any posts about the process of going public.
To learn more about the Directed Share Program, including the specific eligibility criteria, you can read more in the Teaching Center.
Whether you're eligible or ineligible for this program, whether you're teaching 10 learners or 10,000, we're grateful that you've chosen us as your partner to share your knowledge with the world.
Teach on, Chrystie & the Udemy instructor Team
In accordance with Rules 134(b)(1) and 134(d) of the Securities Act of 1933, as amended, please note the following:
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This letter shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
No offer to buy the securities can be accepted and no part of the purchase price can be received until the registration statement has become effective, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to notice of its acceptance given after the effective date. An indication of interest in response to this communication will involve no obligation or commitment of any kind.