Online learning platform Coursera files for US IPO

On-line training supplier Coursera Inc on Friday filed for a inventory market itemizing with US regulators, revealing a surge in income from a lift to enterprise because of the disruption attributable to the COVID-19 pandemic.

Income rose 59% to $293.5 million for the yr ended Dec. 31, 2020, the corporate mentioned in a submitting.

Coursera affords programs reminiscent of machine studying, cloud computing and language studying, with its platform utilized by greater than 3,700 faculties and universities, in keeping with the corporate’s web site.

It launched “Coursera for Campus” in response to the pandemic to assist instructional establishments provide programs to stuck-at-home college students.

On-line studying platforms additionally benefited as retrenched staff took on-line programs to rotate into new careers.

Mountain View, California-based Coursera was based in 2012 and its buyers embrace enterprise capital agency GSV Capital and Kleiner Perkins.

The corporate raised $130 million in funding in July, bringing its money steadiness to greater than $300 million.

Different on-line studying portals reminiscent of Nerdy Inc and Skillsoft selected to go public by offers with blank-check corporations as properly.

Coursera’s internet loss widened to $66.eight million for the yr ended Dec. 31, from a $46.7 million loss a yr earlier.

Morgan Stanley, Goldman Sachs and Citigroup are among the many underwriters for the training know-how firm’s providing.