Codecademy Reaches 100,000 Paid Pro Subscribers
NEW YORK, Feb. 24, 2020 /PRNewswire/ -- Codecademy announced today that it has more than 100,000 Codecademy Pro members and doubled its annual revenue growth with more than a year of positive cash flow.
The company has more than 45 million people in 190 countries learning to code through its courses, making Codecademy the largest online resource for improving computer science literacy and computer programming skills in the world.
"Reaching 100,000 Pro users is a major milestone for us because not only is it far larger than the entire coding bootcamp industry, it's also more than the number of college graduates with computer science degrees each year," said Zach Sims, Codecademy CEO and Co-Founder.
Codecademy Pro provides interactive, intensive learning experiences including expanded members-only content, lessons, and quizzes; access to a mobile app; and real-world projects that allow learners to build a portfolio of work designed to help them land highly competitive jobs and advance in their current roles. Ranging from $20-$40 a month depending on membership length, Codecademy Pro also offers access to 24/7 support through a peer community.
"In the first lesson of the course I was already able to write queries that I could apply the very next day at work and it indeed made my data analysis tasks much more efficient," said Codecademy Pro user Thais Guimares.
Codecademy's learners represent a diverse demographic picture: 34% are students, 80% are under 35 years old, more than 50% have obtained a bachelor's degree or higher, and roughly 50% are employed in non-technical fields (finance, marketing, sales, etc.) The reasons people come to Codecademy to learn new technical skills are just as varied as their demographics.
Another Codecademy Pro user, Leke Karunwi, said: "With newly acquired skills, I have been able to level up a 30-year-old family business breathing new life into it. Asides from an increase in the value of the family business, coding has helped with perseverance or mental stamina. The ability to keep at a problem until it's resolved has helped in ways beyond the actual skill."
"While EdTech is facing a massive wave of consolidation and there are questions about other technology companies' business models, we've managed to make Codecademy a profitable bastion of growth and more importantly, a company that's growing by helping people," said Sims.
As of January 2020, Codecademy Pro has experienced nearly 100% year-over-year growth contributing to more than $30 million sales run rate.
"We've always known that our approach of providing an accessible, engaging, and flexible education for the masses was the right one and hitting this important landmark is proof that with a great team working hard to create an amazing product not only can you grow, but grow sustainably," said Sims.
Since its founding in 2011, Codecademy has sought not only to reinvent the online coding education space, but to build the first truly net native education system. Taking cues from modern tech innovators, Codecademy is rethinking education from the bottom up through an engaging educational experience that doesn't focus so heavily on the "sage on a stage" format found in most U.S. classrooms (and most online learning tools as well).
Today's news is further indication that the pedagogical innovations they have spearheaded are able to scale into sustainable year-over-year revenue growth.
About Codecademy
Since 2011, Codecademy has empowered over 45 million people in 190 countries to unlock their personal and professional potential through coding. To date, Codecademy has raised $42.5 million to make its vision of providing an accessible, flexible, and engaging online education a reality. Codecademy makes it easy for users to start learning instantly with free lessons. Codecademy Pro, a $20- $40/month paid membership with over 100,000 subscribers, allows users to access additional content, an exclusive peer-supported community, skills and career paths that guide user's professional development. The company, which is headquartered in NYC, is backed by top-tier investors like Naspers, Union Square Ventures, Kleiner Perkins, Index Ventures, and Y Combinator. Codecademy has also partnered with governments like The White House, the UK, Brazil, Argentina, and others, and has worked with companies like Google and Amazon to create curriculum. Learn more at www.codecademy.com.
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SOURCE Codecademy
