The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Stephen Sheldon - William Blair Capital Partners - Analyst
: Hey, good morning. Thanks for doing the call. At a high level, I guess, can you just talk some about how you envision the product offering
and go-to-market to look in enterprise? I'd assume you'd be doing that under one motion brand, et cetera, at some point going forward.
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DECEMBER 17, 2025 / 1:00PM, COUR.N - Coursera Inc To combine with Udemy Inc
And then on the consumer side, I guess, how could this impact -- I think it was mentioned about the ability to push subscription packaging
even more. I guess, can you maybe talk about that a little bit more, how you envision that to look with maybe a combined subscription
offering to consumers need?
Question: Stephen Sheldon - William Blair Capital Partners - Analyst
: Great. Thank you.
Question: Josh Baer - Morgan Stanley - Analyst
: Great. Thanks for the question. Just wondering how you're thinking about Udemy's content creator reaction. Like obviously, on the one
hand, there's a tremendous opportunity to sell into Coursera's registered learner base. On the other hand, a lot of uncertainty on what types
of content are pushed or highlighted and sold. So just hoping you could shine some light on the expected reaction from that instructor
base?
Question: Josh Baer - Morgan Stanley - Analyst
: Great. And do you have a sense of how much your respective learner bases are mutual or overlapping?
Question: Josh Baer - Morgan Stanley - Analyst
: Got it. Thanks. Congrats.
Question: Bryan Smilek - JPMorgan Chase & Co - Analyst
: Great. Thanks for taking the questions and congrats on the deal today. I guess, could we just get a better understanding of where the
combined entity's content focus will be? Obviously, two different content strategies, really Coursera leaning in towards more branded
credentials, co-branded with partners as well.
So just curious how that will evolve over the combined entity as you bring in more of the Udemy marketplace. And then conversely as well,
can you just share a bit more color on any potential regulatory pushback. Obviously, the transaction expected to close in the back half of
'26. But just curious how you view this from a regulatory perspective.
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DECEMBER 17, 2025 / 1:00PM, COUR.N - Coursera Inc To combine with Udemy Inc
Question: Bryan Smilek - JPMorgan Chase & Co - Analyst
: Great. Thank you both for the time.
Question: Ryan MacDonald - Needham & Company LLC - Analyst
: Hi, thanks for taking my question. Congrats on the announced transaction. Greg, you talked about earlier about the opportunity that Udemy
can potentially open up for Coursera outside the US. Can you just talk about maybe what you've seen thus far, whether it's from a content
perspective, a geographic perspective in terms of reach about where you see sort of the most near-term post transaction close opportunities
for Coursera to sort of benefit from some of the scale outside the US Udemy aspects?
Question: Ryan MacDonald - Needham & Company LLC - Analyst
: Appreciate the color there, thanks.
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