California based online learning platform - Coursera files for US IPO
In the US, Coursera Inc has filed for a stock market listing revealing a surge in revenue due to the disruption caused by the COVID-19 pandemic.
The company said in a filing that the revenue of the company rose 59% to $293.5 million for the year ended Dec. 31, 2020.
As per the company website, the company offers courses like machine learning, cloud computing and language learning, with its platform used by more than 3,700 colleges and universities.
It launched “Coursera for Campus” in response to the pandemic to help educational institutions offer courses to stuck-at-home students.
The online learning platforms benefit from the retrenched employees as they took online courses for new opportunities.
Mountain View, California-based Coursera was founded in 2012 and its investors include venture capital firm GSV Capital and Kleiner Perkins. The company has already raised $130 million in funding in July, bringing its cash balance to more than $300 million.
Coursera’s net loss widened to $66.8 million for the year ended Dec. 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.
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