With New Funding, Udacity Valued At $1 Billion

Online education provider Udacity has achieved "unicorn" status, a term used by investors to describe companies that are valued at more than $1 billion. The company, which launched as a massive open online course provider but has since shifted its focus to course sequences it calls "nanodegrees," reached the milestone after securing another $105 million from investors. In a blog post, Udacity said the money will be used to expand the company's offerings.