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Coursera

Topic: Company

 From HandWiki - Reading time: 9 min
Short description: Online education technology company
Coursera Inc.
Coursera logo (2020).svg
Screenshot
Coursera homepage.png
Coursera's homepage in March 2020
Type of businessPublic
Type of site
Online education
Available inMultilingual (40)
Traded asNYSE: COUR
HeadquartersMountain View, California, U.S.
Area servedWorldwide
Founder(s)
Key peopleJeff Maggioncalda[1][2][3]
(CEO)
IndustryE-learning
RevenueIncrease US$524 million (2022) [4]
Operating incomeDecrease US$−177 million (2022)[4]
Net incomeDecrease US$−175 million (2022)[4]
Total assetsDecrease US$948 million (2022)[4]
Total equityDecrease US$695 million (2022)[4]
Employees1,401 (December 2022)[4]
Websitecoursera.org
CommercialYes
RegistrationRequired
Users118 million (2022)[4]
LaunchedApril 2012; 12 years ago (2012-04)
Current statusActive

Coursera Inc. (/kərˈsɛrə/) is a U.S.-based massive open online course provider founded in 2012[5][6] by Stanford University computer science professors Andrew Ng and Daphne Koller.[7] Coursera works with universities and other organizations to offer online courses, certifications, and degrees in a variety of subjects. In 2023 more than 275+ universities and companies offer more than 4,000 courses through Coursera.[8]

History

Coursera was founded in 2012[9] by Stanford University computer science professors Andrew Ng[10] and Daphne Koller.[11] Ng and Koller started offering their Stanford courses online in fall 2011,[12] and soon after left Stanford to launch Coursera. Princeton, Stanford, the University of Michigan, and the University of Pennsylvania were the first universities to offer content on the platform.[13]

In 2014 Coursera received both the Webby Winner (Websites and Mobile Sites Education 2014) and the People's Voice Winner (Websites and Mobile Sites Education) awards.[14]

In March 2021, Coursera filed for an IPO.[15] The nine-year-old company brought in roughly $293 million in revenue for the fiscal year ended December 31 — a 59% growth rate from 2019, according to the filing. Net losses widened by roughly $20 million yearly, reaching $66.8 million in 2020.[16] Coursera spent $107 million on marketing in 2020.[17]

Finances

Coursera's revenues rose from $184 million in 2019 to $294 million in 2020. The company lost $66 million in 2020 as it ramped up marketing and advertising.[18]

For the first quarter of 2021, Coursera reported revenue of $88.4 million, up 64% from a year earlier, with a net loss of $18.7 million, or $13.4 million on a non-GAAP basis.[19] Coursera said consumer revenue was $51.9 million, up 61%, while enterprise revenue was $24.5 million, up 63%, and degree programs had revenue of $12 million, up 81%.[19]

For the third quarter of 2021, Coursera reported revenue of $109.9 million, up 33% from $82.7 million a year ago. Gross profit was $67.7 million or 61.6% of revenue. Net loss was $(32.5) million or (29.5)% of revenue.

To date, Coursera has never made a profit.[20]

Funding

The startup raised an initial $16 million funding round backed by Kleiner Perkins Caufield & Byers and New Enterprise Associates. In 2013, GSV led the Series B investment, which totaled $63 million. In 2015, NEA led the Series C round of venture funding, which totaled more than $60 million. In 2017, the company raised $64 million from its existing investors in a Series D round of funding.[21] In 2019, the company raised $103 million in Series E round of funding from the SEEK Group, Future Fund and NEA.[22] The company reached valuation of $1 billion+ in 2019. In July 2020, the company announced it had raised $130 million in Series F funding and updated its valuation to $2.5 billion.[23]

Business model

In September 2013, it announced it had earned $1 million in revenue through the sale of verified certificates that authenticate successful course completion.[24] Coursera first rolled out a series of fee-based course options, which included verified credentials for completion, in 2013.[25] As of October 2015, the company had raised a total of $146.1 million in venture capital.[26]

In January 2016, Coursera rolled out fees to earn grades and assessments for "the vast majority of courses that are part of Specializations".[27] The company offers Financial Aid to people who demonstrate a need.[28] In July 2016, the company launched an enterprise product called Coursera for Business. TechCrunch notes that the company "opened itself to additional revenues from the lucrative corporate e-learning market, which some reports suggest was worth $12 billion in the US alone".[29] Coursera for Business customers include L'Oréal, Boston Consulting Group, and Axis Bank. In October 2016, Coursera launched a monthly subscription model for Specializations and a 1-week free trial. The company has said subscription costs will vary "depending on the topic area".[30]

In January 2017, the company launched Coursera for Governments & Nonprofits. Coursera has announced partnerships with the Institute for Veterans & Military Families (IVMF) in the United States and entities in Egypt, Mongolia, Singapore, Malaysia, Pakistan, and Kazakhstan.[31] In June 2017, Jeff Maggioncalda became the CEO of Coursera.[32][33][34]

In March 2018, Coursera launched six fully online degree courses, including the bachelor's and master's qualifications in various domains.[35]

Strategic partners

(As of December 2019) the total number of partners is more than 200 across 29 countries. Coursera mainly works with universities and colleges, but also with corporations[36] and governments. University partners include University of São Paulo in Brazil,[37] University of London[38] in the United Kingdom , Indian School of Business of India,[39] Yonsei University in South Korea ,[40] and institutions like Yale,[41] University of Illinois and University of Pennsylvania.[42] Google launched Professional certification program.[43] Google will consider all of its certificates as the equivalent of a four-year college degree.[44][45]

Product and services

Courses

Coursera courses last approximately four to twelve weeks, with one to two hours of video lectures a week. These courses provide quizzes, weekly exercises, peer-graded and reviewed assignments, an optional Honors assignment, and sometimes a final project or exam to complete the course.[46] Courses are also provided on-demand, in which case users can take their time in completing the course with all of the material available at once. (As of May 2015), Coursera offered 104 on-demand courses. They also provide guided projects which are short 2-3 hour projects that can be done at home.

According to 'Coursera Impact Report 2020', the top five most popular courses that people learn from Coursera were contact tracing, digital marketing, project management, Python programming, and social psychology.[47] In addition to this, the DeepLearning.AI specializations by Coursera founder Andrew Ng, including AI for Good Specialization are widely reported on in media.

Degrees

As of 2017, Coursera offers complete master's degrees. They first started with a Master's in Innovation and Entrepreneurship (MSIE) from HEC Paris and a Master's of Accounting (iMSA) from the University of Illinois but have moved on to offer a Master of Computer Science in Data Science and Master of Business Administration (iMBA), both from University of Illinois.[48] Also as part of their MBA programs, there are some courses which are offered separately, which are included in the curriculum of specific MBAs when enrolling in classes such as their digital marketing courses.

Professional certificate

Google, IBM, Meta[49] and other well-known companies, launched various courses for professional certificates, allowing students to fill the workforce in various sectors, such as data analytics, IT support, digital marketing, UX design, project management, and Data science.[45][43] According to Google, their courses are equivalent to 4 year degrees. They also offered 100,000 scholarships.[50] Google and its 20+ partners will accept those certificates as 4-year degree equivalent.[51][52]

Pricing and Fees

Some people find Coursera's pricing and fees confusing.[53][54][55][56] Many of its courses are free to students—over 2,900 free courses as of 2023.[53]

The free courses (also called "auditing a course") do not include a certificate of completion or grades or any other instructor feedback. A free course can be "upgraded" to the paid version of a course, which includes instructor's feedback and grades for the submitted assignments, and (if the student gets a passing grade) a certificate of completion. [54][57]

Other Coursera courses, projects, specializations, etc. cannot be audited—they are only available in paid versions. Many of them begin with a 7-day free trial.[55][56][57]

Impact

In 2020, in response to the COVID-19 pandemic, Coursera launched a course by the Jameel Institute at Imperial College London.[58] Called "Science Matters: Let's Talk About COVID-19", the course was the most popular launched on Coursera in 2020, with over 130,000 enrolled learners that year.[59] The course was presented by Jameel Institute research lead Professor Helen Ward and deputy director Dr Katharina Hauck, with specific modules in collaboration with other researchers from across Imperial.[60]

Outreach and sponsorship programs

In March 2020, in response to the global COVID-19 pandemic, Coursera, alongside its partners, sponsored over 115 certification courses for people who may have been affected by the global pandemic. This is part of an outreach initiative for people who may have lost their jobs, been retrenched, had their salaries reduced, or merely want to improve and grow by learning and developing their technical skills through recognized certifications. The program ended on December 31, 2020, but many free courses on Coursera remain available through auditing.[61]

References

  1. ↑ Das, Sejuti (2020-08-12). "IIT Roorkee Partners With Coursera To Offer AL, ML & Data Science Online Programs" (in en-US). https://analyticsindiamag.com/iit-roorkee-partners-with-coursera-to-offer-al-ml-data-science-online-programs/. 
  2. ↑ "Sherry Coutu and Coursera step in to upskill UK's digital laggards" (in en-US). 30 July 2020. https://sifted.eu/articles/sherry-coutu-coursera-digital-laggards/. 
  3. ↑ Geron, Tomio (2020-07-28). "Jobless Workers Fuel Surge in Demand for Startups Offering Retraining" (in en-US). Wall Street Journal. ISSN 0099-9660. https://www.wsj.com/articles/jobless-workers-fuel-surge-in-demand-for-startups-offering-retraining-11595930400. 
  4. ↑ 4.0 4.1 4.2 4.3 4.4 4.5 4.6 "Coursera Inc. 2022 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. 23 February 2023. https://www.sec.gov/ix?doc=/Archives/edgar/data/1651562/000095017023004143/cour-20221231.htm. 
  5. ↑ Pappano, Laura (2012-11-02). "The Year of the MOOC" (in en-US). The New York Times. ISSN 0362-4331. https://www.nytimes.com/2012/11/04/education/edlife/massive-open-online-courses-are-multiplying-at-a-rapid-pace.html. 
  6. ↑ "How Coursera Makes Money" (in en). https://www.investopedia.com/articles/investing/042815/how-coursera-works-makes-money.asp. 
  7. ↑ Leighton, Mara. "Coursera is one of the top online learning platforms, with thousands of courses from schools like Yale, Geis College of Business and companies like Google — here's how it works" (in en-US). https://www.businessinsider.com/what-is-coursera. 
  8. ↑ de León, Riley (5 March 2021). "Coursera files for IPO amid online learning boom". CNBC. https://www.cnbc.com/2021/03/05/coursera-files-for-ipo-amid-online-learning-boom-.html. 
  9. ↑ Tamar Lewin (17 July 2012). "Universities Reshaping Education on the Web". The New York Times. https://www.nytimes.com/2012/07/17/education/consortium-of-colleges-takes-online-education-to-new-level.html. 
  10. ↑ Quora. "Coursera Co-Founder Andrew Ng: AI Shouldn't Be Regulated As A Basic Technology" (in en). Forbes. https://www.forbes.com/sites/quora/2017/09/15/coursera-co-founder-andrew-ng-ai-shouldnt-be-regulated-as-a-basic-technology/#744b95e7d650. 
  11. ↑ NPR Staff (30 September 2012). "Online Education Grows Up, And For Now, It's Free Listen·18:14". NPR. https://www.npr.org/2012/09/30/162053927/online-education-grows-up-and-for-now-its-free. 
  12. ↑ Staff (August 2012). "Teaching the World: Daphne Koller and Coursera". IEEE. https://www.computer.org/csdl/mags/co/2012/08/mco2012080008.html. 
  13. ↑ Waters, Audrey (18 April 2012). "Coursera, the Other Stanford MOOC Startup, Officially Launches with More Poetry Classes, Fewer Robo-Graders". Hacked Education. http://hackeducation.com/2012/04/18/coursera. 
  14. ↑ "Coursera | The Webby Awards" (in en). https://winners.webbyawards.com/2014/websites/general-websites/education/144773/coursera. 
  15. ↑ "Online education startup Coursera has filed for an IPO". Mar 6, 2021. https://onlinechurn.com/online-education-startup-coursera-has-filed-for-an-ipo/. Retrieved Mar 8, 2021. 
  16. ↑ León, Riley de (2021-03-05). "Coursera files for IPO amid online learning boom" (in en). https://www.cnbc.com/2021/03/05/coursera-files-for-ipo-amid-online-learning-boom-.html. 
  17. ↑ McKenzie, Lindsay (9 March 2021). "'MOOCs Failed, Short Courses Won'". https://www.insidehighered.com/news/2021/03/09/coursera-ipo-filing-reveals-company-successfully-monetizing-moocs. 
  18. ↑ "Coursera S-1". Securities and Exchange Commission. https://www.sec.gov/Archives/edgar/data/0001651562/000119312521071525/d65490ds1.htm. 
  19. ↑ 19.0 19.1 Savitz, Eric J.. "Coursera Posts Strong Growth in First Quarter Since IPO" (in en-US). https://www.barrons.com/articles/coursera-posts-strong-growth-in-first-quarter-since-ipo-51620169113. 
  20. ↑ "Coursera, Inc. (COUR)". Yahoo Finance. https://finance.yahoo.com/quote/COUR/key-statistics/. 
  21. ↑ "Online learning startup Coursera raises $64M at an $800M valuation" (in en-US). 7 June 2017. http://social.techcrunch.com/2017/06/07/online-learning-startup-coursera-raises-64m-at-an-800m-valuation/. 
  22. ↑ "Online learning startup Coursera picks up $103M, now valued at $1B+" (in en-US). 25 April 2019. http://social.techcrunch.com/2019/04/25/online-learning-startup-coursera-picks-up-103m-now-valued-at-1b/. 
  23. ↑ Adams, Susan (17 July 2020). "Online Learning Platform Coursera Raises $130 Million At Reported $2.6 Billion Valuation". Forbes. https://www.forbes.com/sites/susanadams/2020/07/17/online-learning-platform-coursera-raises-130-million-at-reported-25-billion-valuation/#151d7bd9688f. 
  24. ↑ Heussner, Ki Mae (12 September 2013). "Coursera hits $1M in revenue through verified certificates". Gigaom. https://gigaom.com/2013/09/12/coursera-hits-1m-in-revenue-through-verified-certificates/. 
  25. ↑ Fain, Paul (9 January 2013). "Paying for Proof". Inside Higher Ed. https://www.insidehighered.com/news/2013/01/09/courseras-fee-based-course-option. 
  26. ↑ Staff (9 January 2013). "Coursera: CNBC Distruptor". CNBC. https://www.cnbc.com/2016/06/06/coursera-2016-disruptor-50.html. 
  27. ↑ Staff (25 January 2016). "Coursera to Charge Fees for Previously Free Courses". EdSurge. https://www.edsurge.com/news/2016-01-25-coursera-to-charge-fees-for-previously-free-courses. 
  28. ↑ Staff (20 June 2016). "IIE to Connect Refugee Students with Online Courses through New Coursera for Refugees Program". Institute of International Education. http://www.iie.org/en/Who-We-Are/News-and-Events/Press-Center/Press-Releases/2016/2016-06-20-IIE-Connects-Refugees-with-Online-Courses. 
  29. ↑ Sawers, Paul (31 August 2016). "Coursera for Business launches to tap the billion-dollar corporate e-learning market". VentureBeat. https://venturebeat.com/2016/08/31/coursera-for-business-launches-to-tap-the-multi-billion-dollar-corporate-e-learning-market/. 
  30. ↑ Kuchler, Hannah (31 October 2016). "Education start-up Coursera shifts to monthly subscriptions". Financial Times. https://www.ft.com/content/e5c70b6a-9d39-11e6-8324-be63473ce146. 
  31. ↑ Sawers, Paul (24 January 2017). "Coursera for governments and nonprofits launches to 'close the growing skills gap'". VentureBeat. https://venturebeat.com/2017/01/24/coursera-for-governments-and-nonprofits-launches/. 
  32. ↑ Korn, Melissa (2017-06-13). "Coursera Names Financial Engines Ex-CEO Jeff Maggioncalda as New Leader" (in en-US). Wall Street Journal. ISSN 0099-9660. https://www.wsj.com/articles/coursera-names-financial-engines-ex-ceo-jeff-maggioncalda-as-new-leader-1497365615. 
  33. ↑ "Coursera gets a new CEO: former Financial Engines CEO Jeff Maggioncalda replaces Rick Levin". 2017-06-13. https://venturebeat.com/2017/06/13/coursera-ceo-rick-levin-steps-down-to-be-replaced-by-former-financial-engines-ceo-jeff-maggioncalda/. 
  34. ↑ "Coursera hires CEO who helped his last company go public". http://www.bizjournals.com/sanjose/news/2017/06/14/coursera-ceo-jeff-maggioncalda-financial-engines.html. 
  35. ↑ Atack, Patrick (6 March 2018). "Coursera joins ranks of online degree expansionists with six new degrees" (in en). https://thepienews.com/news/coursera-joins-ranks-of-online-degree-expansionists/. 
  36. ↑ "IT Support Professional Certificate" (in en). https://grow.google/programs/it-support/. 
  37. ↑ Heim, Anna (4 October 2014). "September in Latin America: All the tech news you shouldn't miss from the past month". The Next Web. https://thenextweb.com/insider/2014/10/04/september-latin-america-tech-news-shouldnt-miss-past-month/. 
  38. ↑ Staff (19 August 2016). "New IoT and Embedded Systems courses launched on Coursera". eCampusNews. http://www.ecampusnews.com/it-newsletter/embedded-systems-coursera/. 
  39. ↑ Dasgupta, Brinda (9 June 2016). "Coursera and ISB launch series of investment management courses". The Economic Times (Mumbai). http://economictimes.indiatimes.com/industry/services/education/coursera-and-isb-launch-series-of-investment-management-courses/articleshow/52668791.cms. 
  40. ↑ Fairhead, Harry Connolly (12 October 2016). "Online Training For IoT Development". I-Programmer. http://www.i-programmer.info/news/150-training-a-education/10156-online-training-for-iot-development.html. 
  41. ↑ Martell, Bess Connolly (22 February 2016). "School of Music launches 'Music and Social Action' Coursera course". Yale News. http://news.yale.edu/2016/02/22/school-music-launches-music-and-social-action-coursera-course. 
  42. ↑ DQIndia Online (17 August 2016). "Coursera partners with U.S. Department of State and University of Pennsylvania". DataQuest. http://www.dqindia.com/coursera-partners-with-u-s-department-of-state-and-university-of-pennsylvania/. 
  43. ↑ 43.0 43.1 "learn google it guide". https://www.usnews.com/education/learn-google-it-guide. 
  44. ↑ "Google announces 100,000 scholarships for online certificates in data analytics, project management and UX". 13 July 2020. https://www.cnbc.com/amp/2020/07/13/google-announces-certificates-in-data-project-management-and-ux.html. 
  45. ↑ 45.0 45.1 "google to launch new career certificate-program". 21 August 2020. https://www.dhakatribune.com/world/2020/08/21/google-to-launch-new-career-certificate-program. 
  46. ↑ Kamenetz, Anya (2012-08-08). "How Coursera, A Free Online Education Service, Will School Us All | Fast Company | Business + Innovation". Fast Company. http://www.fastcompany.com/3000042/how-coursera-free-online-education-service-will-school-us-all. 
  47. ↑ "Report: Coursera Impact Report (2020)" (in en-US). https://about.coursera.org/press/insights/coursera-impact-report-2020. 
  48. ↑ Sinha, Nikhil (12 March 2017). "Coursera Launches Two New Master's Degrees from HEC Paris and the University of Illinois". Coursera. https://blog.coursera.org/coursera-launches-two-new-masters-degrees/. 
  49. ↑ "Facebook offers social media marketing professional certificate course via Coursera". 15 September 2020. https://indianexpress.com/article/education/facebook-offers-social-media-marketing-professional-certificate-course-via-coursera-6596791. 
  50. ↑ "Google announces 100,000 scholarships for online certificates in data analytics, Project management and UX". 13 July 2020. https://www.cnbc.com/2020/07/13/google-announces-certificates-in-data-project-management-and-ux.html. 
  51. ↑ "Google Has a Plan to Disrupt the College Degree". 19 August 2020. https://www.inc.com/justin-bariso/google-plan-disrupt-college-degree-university-higher-education-certificate-project-management-data-analyst.html. 
  52. ↑ "Google sets out to disrupt four-year degrees". 28 August 2020. https://thepienews.com/news/google-sets-out-to-disrupt-four-year-degrees. 
  53. ↑ 53.0 53.1 Catherine Cooke. "Coursera Costs: How Much Does It Cost?". 2023.
  54. ↑ 54.0 54.1 "Coursera Pricing: How Much Does It Cost?".
  55. ↑ 55.0 55.1 Liz Hurley. "How much does Coursera Cost? Coursera pricing clearly explained".
  56. ↑ 56.0 56.1 Ryan Harris. "Coursera Cost 2023: Detailed Pricing Breakdown". 2023.
  57. ↑ 57.0 57.1 Pat Bowden. "How much does Coursera cost?". 2023.
  58. ↑ "COVID19: Imperial launches free online course exploring science behind outbreak | Imperial News | Imperial College London" (in en). 19 February 2020. https://www.imperial.ac.uk/news/195455/covid19-imperial-launches-free-online-course/. 
  59. ↑ "Free COVID-19 online course re-launches to learners worldwide | Imperial News | Imperial College London" (in en). 28 March 2020. https://www.imperial.ac.uk/news/196513/free-covid-19-online-course-re-launches-learners/. 
  60. ↑ "Science Matters: Let's Talk About COVID-19" (in en). https://www.coursera.org/learn/covid-19. 
  61. ↑ "Coursera Together: Free online learning during COVID-19". 25 March 2020. https://blog.coursera.org/coursera-together-free-online-learning-during-covid-19/. 

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