Stay in school. Udemy is learning that it pays to stay in school. The online marketplace, which offers more than 150k courses, earned itself a $50M investment from Benesse Holdings. Benesse,a Japanese education publisher, (think Scholastic without the book fairs but also more anime) made the investment at a $2B valuation.
Udemy last raised $60M back in 2016, when it was valued at $710M. Not a bad jump for a bunch of nerds. In its current round, the teacher’s pets have raised more than $200M, and plan to use the cash to further expand its course offerings, among other things. If you’re looking to learn how to juggle, this might be your chance.
Skunked. Boston Beer released its earnings report on Wednesday, and let’s just say Wall Street is going to need something stronger tonight. Shares for the beermakers fell 8.2% after hours, following the company’s reported Q4 net income coming in at $13.8M, compared to $21.8M in the same quarter last year. That drop is likely due to heavy investments in innovation and Truly’s. Isn’t that what startups use as a recruiting pitch?
Revenue clocked in at $320.2M, up from last year’s $239.2M, but the Truly-maker said it expects adjusted earnings of $10.70 and $11.70 per share, missing the analyst predicted $11.77 estimate. Damn kids and their White Claws.
Hamer(s) time. UBS tapped a new CEO, as ING’s Ralph Hamers is expected to take the helm. Hamers is stepping into the shoes of Sergio Ermotti, who is one of the longest-tenured bank CEOs in Europe. Although, being the CEO of a Swiss bank probably provides plenty of reason to stick around, if you catch my drift.
Hamers has been with ING for more almost 30 years, heading the firm’s Dutch and Belgian banking divisions before making the leap to CEO. While in charge, Hamers did what literally every other bank CEO says they’ve been trying to do, leading a digital push for the firm.
Staying home sick. Adidas is feeling the effects of coronavirus, and not just because it was late to jump on selling three-stripe surgical masks. The German cobblers reported an 85% drop in business activity in Asia since January 25th, compared to the prior year.
The firm closed a “significant” number of its stores over in China, part of a market to which it attributes more than one-third of sales. Despite the news, shares were still up 1.5% on Wednesday morning. You can still wear Stan Smith’s in mandatory quarantine, apparently.
Competitor and German compatriot, Puma, also said its sales had been affected, but its shares climbed 8%. Can we be 100% sure a decline in business activity is a bad thing?