Online education provider Coursera on Friday filed for a stock market listing with US regulators, revealing a surge in revenue from a boost to business due to the disruption caused by the Covid-19 pandemic.
Revenue rose 59% to $293.5 million for the year ended December 31, 2020, the company said in a filing.
Coursera offers courses such as machine learning, cloud computing, and language learning, with its platform used by more than 3,700 colleges and universities, according to the company’s website.
Google suspends Parler social networking app from Play Store
It launched “Coursera for Campus” in response to the pandemic to help educational institutions offer courses to stuck-at-home students.
Online learning platforms also benefited as retrenched employees took online courses to rotate into new careers.
Mountain View, California-based Coursera was founded in 2012 and its investors include venture capital firm GSV Capital and Kleiner Perkins.
Too many apps can spoil online learning
The company raised $130 million in funding in July, bringing its cash balance to more than $300 million.
Other online learning portals such as Nerdy and Skillsoft chose to go public through deals with blank-check firms as well.
Coursera’s net loss widened to $66.8 million for the year ended December 31, from a $46.7 million loss a year earlier.
Morgan Stanley, Goldman Sachs, and Citigroup are among the underwriters for the education technology company’s offering.
1729943577-0/Untitled-design-(24)1729943577-0-270x192.webp "chinese firm deep blue sells 210k seats for 2027 space tourism")
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ