The merger is complete. After three failed attempts and five months of regulatory and shareholder review, Coursera and Udemy have finally combined. Now comes the restructuring, the platform integration, and some unanswered leadership questions.
The all-stock deal was first announced on December 17, 2025, and approved by stockholders on April 9, 2026.
Each Udemy share was exchanged for 0.8 shares of Coursera. Udemy shareholders received ~$3.8 per share when the deal closed, based on Coursera’s stock price in the days leading up to closing. Former Coursera stockholders own ~59% of the combined company; former Udemy stockholders own ~41%.
Udemy’s stock has been delisted from NASDAQ, and Coursera’s market cap has slid from ~$1.25B at announcement to ~$963M today. The company will announce a share repurchase program within two weeks.
The combined company will bring together two ecosystems with hundreds of university and industry partners to “build the world’s most comprehensive skills platform for the AI era”.
Leadership Transitions
The combined nine-member board includes six former Coursera directors and three former Udemy directors. Three Coursera board members stepped down, making room for three former Udemy directors: Sohaib Abbasi, Marylou Maco, and Lydia Paterson, who takes over as Audit Committee chair.
Here’s what we know about the leadership roles:
- Greg Hart remains CEO
- Mike Foley remains CFO
- Andrew Ng continues as Chairman of the Board
- Rob Rosenthal, the President of Udemy Business, is transitioning to an advisory role.
Udemy CEO Hugo Sarrazin has not announced what role, if any, he will transition into in the combined company.
Here’s the interesting part. Coursera said “the combination is expected to generate meaningful operating efficiencies… to support a stronger operating model and increase the company’s ability to invest in its long-term strategy.”’ This means there will likely be layoffs even though an official announcement wasn’t made.
What Changes, What Doesn’t
Coursera said that for now, nothing changes for users. Learners keep their courses, subscriptions, and certificates. Instructors and content partners keep their existing agreements and publishing tools. Enterprise customers keep their current pricing and platform access.
Over time, the plan is to build a unified platform with expanded catalog access, AI-powered learning tools, and deeper skills analytics. Coursera said that together, both platforms are “better positioned to accelerate a skills-first future,” but it did not say whether Udemy will continue to work as a standalone platform, which Udemy had stated in its Q4 2025 earnings call.
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