With 150,000 courses ranging from how to win at online poker to principles of quantum mechanics, online education startup Udemy is thriving during the pandemic
Coccari says several hundred instructors make at least six figures annually, and that number will likely double this year. They include61, who earned $12,400 this May from her bread-baking courses. A high school dropout who married at 21, she had 10 children including a son with autism before she escaped her abusive marriage a decade ago. “I had no degree, no work history and I was pretty battered emotionally,” she says.
Bali left as CEO in 2014 and the company churned through two more bosses before Coccari took over last year. A Wharton grad and serial startup CEO, Coccari’s last job was heading Milwaukee-based premium pet food purveyor Stella & Chewy’s. One of that company’s backers, Ken Fox of New York-based venture firm Stripes, is a Udemy investor and board member. He asked Coccari to take the CEO job and manage Udemy’s expansion.
Udemy welcomes all subject matter aside from a shortlist of no-nos like porn, firearms and hate speech. Coccari is cautious about predicting how the pandemic will shape the future of education. But online learning cheerleaders like Chicago edtech investor Deborah Quazzo of GSV Ventures believes the virtual education market will hit $1 trillion in 2026, more than double what she expected before the pandemic. She says Udemy is poised to balloon in size and regrets that she didn’t fund the company. “I was stupid,” she says.
Coccari says he’s concentrating on the present. “We’re just really focused on making sure we can handle these massive spikes in traffic,” he says. “We don’t know what the world is going to look like at the end of all this.”
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