Sunday, November 22, 2015

Online pioneer Udacity lands $105 million round and a $1 billion valuation - Marco della Cava, USA TODAY

Udacity has 11,000 students. It has some 1,000 graduates bearing its so-called “nanodegrees” who paid $200 a month per course. Most courses require a minimum of 10 hours of work a week, and last between three to six months. Makhijani says the company is profitable with its existing model, even when taking into account the fact that it refunds 50% of tuition to anyone successfully passing a course. “We found we could offer that enticement financially, and we wanted to do because the work isn’t easy,” he says, adding that some 90% of Udacity students have full-time jobs.

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