Briefing

The Briefing: Udemy Slips In First Day On Nasdaq, Kurly Eyes Market Debut, And More

Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

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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 symbol UDMY. Read more about the company’s growth and biggest investors here.

— Joanna Glasner

South Korea’s Kurly plans IPO

South Korean online grocery delivery platform Market Kurly plans to go public next year on the Korea Exchange. The 6-year-old, Seoul-based company is reportedly eyeing a valuation of around $5.9 billion.

— Joanna Glasner

Fintech

Beta Finance raises $5.75M: Beta Finance, a decentralized finance startup offering a platform for lending, borrowing and shorting of crypto assets, raised $5.75 million across its private and public launchpad investment rounds, according to a TechCrunch report. The private investment round was led by Sequoia Capital India.

— Joanna Glasner

Illustration: Dom Guzman

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