Udacity's Successful MOOC Business Model Strategy

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Udacity’s corporate-oriented strategy, based on its vision of bridging the gap between real-world skills, education and employment using MOOCs, has proven to be effective. Now it has 4 million registered users and 11,000 paying students. Its nanodegree program shows a completion rate of 60%, while the academic courses on Coursera or edX.org have only 2%.

Although Udacity does not disclose its financials, its annual revenue is believed to be $24 million. The company has only said that it is growing at rate of 30% per month and is profitable.

Until now, Udacity has raised $160 million in funding from investors and its valuation is $1 billion. This educational start-up, funded by the German computer scientist Sebastian Thrun, plans to use the funds from this latest round to expand into China, the Middle East, and India.

> Read: Billion Dollar Unicorn: Udacity Leans on Industry Giants for Monetization

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