Prosus N.V., MIH Edtech Investments B.V., and Naspers Ltd report that they now beneficially own 0 shares of Udemy, Inc. common stock, representing 0.0% of the class as of 12/31/2025. Each reporting person discloses no sole or shared voting or dispositive power over Udemy shares.
The filing explains that MIH Edtech is a subsidiary of Prosus and that Naspers holds a majority of Prosus’s voting power, but all three entities report ownership of 5 percent or less of Udemy’s common stock.
Positive
None.
Negative
None.
Insights
Large prior Udemy holder now reports 0% beneficial ownership.
The filing shows Prosus, its subsidiary MIH Edtech, and parent Naspers collectively reporting 0 Udemy common shares, or 0.0% of the class, as of 12/31/2025. They also report no sole or shared voting or dispositive power.
The structure note clarifies that Edtech is owned by Prosus, whose voting power is largely held by Naspers, but this chain now leads to no reported Udemy stake. The document does not detail how or when prior holdings changed, only that ownership has fallen below 5 percent.
Future company filings or ownership reports may provide additional context on any transactions that led to this 0 percent position and whether these entities might re-establish a stake.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 2)
Udemy, Inc.
(Name of Issuer)
Common Stock, par value $0.00001
(Title of Class of Securities)
902685106
(CUSIP Number)
12/31/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
902685106
1
Names of Reporting Persons
Prosus N.V.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
NETHERLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
0.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.0 %
12
Type of Reporting Person (See Instructions)
CO
SCHEDULE 13G
CUSIP No.
902685106
1
Names of Reporting Persons
MIH Edtech Investments B.V.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
NETHERLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
0.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.0 %
12
Type of Reporting Person (See Instructions)
Comment for Type of Reporting Person: CO
SCHEDULE 13G
CUSIP No.
902685106
1
Names of Reporting Persons
NASPERS LTD
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
SOUTH AFRICA
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
0.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.0 %
12
Type of Reporting Person (See Instructions)
CO
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Udemy, Inc.
(b)
Address of issuer's principal executive offices:
600 Harrison Street, 3rd Floor,San Francisco, California 94107
Item 2.
(a)
Name of person filing:
This Schedule is jointly filed by Prosus N.V., a public limited liability company incorporated under the laws of the Netherlands ("Prosus"), MIH Edtech Investments B.V., a private limited liability company organized under the laws of the Netherlands ("Edtech"), and Naspers Ltd, a public limited liability company organized under the laws of the Republic of South Africa ("Naspers"). The foregoing entities are collectively referred to as the "Reporting Persons."
(b)
Address or principal business office or, if none, residence:
The address for each of the Reporting Persons is:
Prosus N.V.
Symphony Offices
Gustav Mahlerplein 5
Amsterdam, 1082 MS
The Netherlands
MIH Edtech Investments B.V.
Symphony Offices
Gustav Mahlerplein 5
Amsterdam, 1082 MS
The Netherlands
Naspers Ltd
Media24 Centre
40 Heerengracht
Cape Town 8001
South Africa
(c)
Citizenship:
See row 4 of the cover page for each Reporting Person.
(d)
Title of class of securities:
Common Stock, par value $0.00001
(e)
CUSIP No.:
902685106
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
See the response to row 9 of the Cover Page for each Reporting Person. Edtech is a subsidiary of Prosus, a publicly traded company whose shares are listed on the Euronext Amsterdam. A majority of the voting power of the outstanding ordinary shares of Prosus is held by Naspers a publicly traded company whose shares are listed on the Johannesburg Stock Exchange. As a result, the shares held by Edtech may be deemed to be beneficially owned by Prosus and Naspers. Naspers employs a differential voting structure involving two South African entities, Naspers Beleggings (RF) Beperk ("Nasbel") and Keeromstraat 30 Beleggings (RF) Beperk ("Keerom"), the sole remit of which is to protect the continued independence of Naspers. Each of Nasbel and Keerom disclaims beneficial ownership of all shares, except to the extent of their respective pecuniary interests therein, if any.
(b)
Percent of class:
See the response to row 11 of the Cover Page for each Reporting Person. Edtech is a subsidiary of Prosus, a publicly traded company whose shares are listed on the Euronext Amsterdam. A majority of the voting power of the outstanding ordinary shares of Prosus is held by Naspers a publicly traded company whose shares are listed on the Johannesburg Stock Exchange. As a result, the shares held by Edtech may be deemed to be beneficially owned by Prosus and Naspers. Naspers employs a differential voting structure involving two South African entities, Nasbel and Keerom, the sole remit of which is to protect the continued independence of Naspers. Each of Nasbel and Keerom disclaims beneficial ownership of all shares, except to the extent of their respective pecuniary interests therein, if any.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
See the response to row 5 of the Cover Page for each Reporting Person.
(ii) Shared power to vote or to direct the vote:
See the response to row 6 of the Cover Page for each Reporting Person.
(iii) Sole power to dispose or to direct the disposition of:
See the response to row 7 of the Cover Page for each Reporting Person.
(iv) Shared power to dispose or to direct the disposition of:
See the response to row 8 of the Cover Page for each Reporting Person.
Item 5.
Ownership of 5 Percent or Less of a Class.
Ownership of 5 percent or less of a class
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
Not Applicable
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Prosus N.V.
Signature:
/s/ Nico Marais
Name/Title:
Nico Marais / Authorized Representative
Date:
02/13/2026
MIH Edtech Investments B.V.
Signature:
/s/ Franka Olbers
Name/Title:
Franka Olbers / Authorized Representative
Date:
02/13/2026
NASPERS LTD
Signature:
/s/ Nico Marais
Name/Title:
Nico Marais / Authorized Representative
Date:
02/13/2026
Exhibit Information
99.1 Joint Filing Agreement, dated as of February 11, 2022, by and among the Reporting Persons.
