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Udemy prices IPO at top of range
Shares of Udemy, an online education marketplace where users can offer their own courses, fell more than 5 percent in their first day of trading on Nasdaq.
The company raised $421 million in its initial public offering, after pricing shares at $29—the high end of the proposed range of $27 to $29—but shares opened below that at $27. That makes the offering one of the 20 worst IPOs of the year, according to Bloomberg.
The offering sets a valuation above $4 billion for the San Francisco-based company and comes on the heels of several years of sharp growth. As of this year, Udemy says it provides services for more than 44 million people.
Shares now trade on Nasdaq under the ticker s …
