Notice of contract execution on the funding of a capital increase through 3rd-party allocation of newly issued shares by Udacity Inc., a U.S. provider of online education services in technology fields

Sep. 25, 2014
Recruit Holdings Co., Ltd.

Recruit Holdings Co., Ltd. (Recruit, Headquarters: Chiyoda-ku, Tokyo; President, Representative Director & CEO: Masumi Minegishi) reports, as described below, that it has executed a contract on the funding of a capital increase through a third-party share allocation for Udacity, Inc. (headquarters: Mountain View, California, U.S.; CEO: Sebastian Thrun; Udacity), which is based in the U.S. and provides online education services to help people enhance their careers in the technology field, through its investment subsidiary RSP Fund No. 5, LLC. Since the autumn of 2013, Recruit has collaborated with Udacity to localize content of Udacity into Japanese, and plans to increase Japanese-language content.

1. Goal of this investment

Udacity plans to use this funding to further expand its lineup of courses on cutting-edge technologies and coaching services for students. Through this investment, Recruit will promote education on cutting-edge technologies together with Udacity.

2. Overview of Udacity

U.S.-based Udacity provides online education services designed to help people improve their careers in cutting-edge technology fields, including data science, mobile development, and computer science. The lineup of services ranges from an introductory course on computer science to an advanced course on artificial intelligence. Mr. Sebastian Thrun, founder of Udacity, was involved in the start of Google X, and is known for research and development projects including the self-driving car and Google Glass. He is currently a Google Fellow.

(1) Company name Udacity, Inc.
(2) Representatives Sebastian Thrun
(3) Headquarters 2465 Latham Street, 3rd Floor Mountain View, CA 94040
(4) Established June 24, 2011
(5) Main business Operation of UDACITY, a technology-related online education service
(6) Website

3. Overview of RSP Fund No. 5, LLC

(1) Company name RSP Fund No. 5, LLC
(2) Representative Akihiko Okamoto
(3) Headquarters 8-4-17 Ginza, Chuo-ku, Tokyo
(4) Established May 7, 2013
(5) Main business Investment development and venture capital
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