| 24 May 2024, Friday |

Online education provider Coursera to raise $519 million in US IPO

Online education provider Coursera Inc priced its initial public offering (IPO) in New York at $33 apiece, the higher end of its target range that gives the company a valuation of about $4.30 billion, the firm said on Tuesday.

At this price, the company will raise about $519 million.

Mountain View, California-based Coursera was among the companies to have benefited from a surge in demand for online learning platforms during the COVID-19 pandemic.

Its revenue rose 59 percent to $293.5 million for the year ended Dec. 31, 2020, the company had said in March while filing for the IPO.

The IPO includes around 14.7 million shares of its common stock, Coursera said in a statement, adding that its selling shareholders were offering around 1.1 million shares.

The company’s shares will be listed on the New York Stock Exchange under the ticker symbol “COUR,” it said.

Coursera’s platform, used by more than 3,700 colleges and universities, offers courses on machine learning, cloud computing and language learning.

Morgan Stanley, Goldman Sachs are the lead underwriters for the offering, while Citigroup and UBS Investment Bank are acting as the additional bookrunners.

  • Reuters