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The Funded: Udacity gets $75M debt deal, says it's become profitable

Nov 04, 2020 - Silicon Valley Business News
Mergers and Acquisitions

Udacity Inc. this week said it has become profitable and lined up a $75 million debt facility with Palo Alto-based Hercules Capital.

The Mountain View-based online education business pivoted to enterprise customers last year, and the move appears to be paying off. Udacity said that bookings from corporate and government customers now account for nearly 80 percent of overall revenue.

"We're seeing tremendous demand on the enterprise and government side," CEO Gabe Dalporto, who joined...