IPO News

Online learning platform Coursera files for IPO with U.S. Regulators

On Friday, online education provider Coursera Inc filed for a stock market listing with U.S. regulators.

This is on account of a hike in it’s revenue from a boost to business as per reports.

Moreover, it was due to disruption that the COVID-19 pandemic caused which fostered the growth of online platforms with Edtech segment.

Further, the company’s revenue surged 59% to $293.5 million for the year ended Dec. 31, 2020.

Coursera is an Edtech platform that proffers courses like machine learning, cloud computing and language learning.

According to the company’s website, more than 3,700 colleges and universities use it’s platform.

However, the underwriters for the initial public offering are Citigroup, Goldman Sachs and Morgan Stanley.

Earlier, the company had launched “Coursera for Campus” with an aim to help educational institutions offer courses to stuck-at-home students.

This platform also enabled retrenched employees to take online courses to rotate into new careers and enhance their skill set.

In fact, the company successfully raised $130 million in funding in July, increasing it’s cash balance to more than $300 million.

Founded in 2012, the investors of California-based Coursera include venture capital firm GSV Capital and Kleiner Perkins.

Other online learning portals such as Nerdy Inc and Skillsoft too opted to go public through deals with blank-check firms.

Meanwhile, Coursera’s net loss scaled up to $66.8 million for the year ended Dec. 31. This is against it’s $46.7 million loss from a year ago period.

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