Coursera sets its share price at $33, raising $519M, giving it a market capitalization of $4.3B.
Coursera Inc., an online educational provider, has priced its shares at a top of the marketed range in an initial public offer to raise the US $519 million.
Coursera and the selling stockholders bought 15.73 million shares Tuesday, for the US $33 each. They had been marketed for the US $30 to US$33.
Coursera IPO 4.3B
Based on the shares that the company has filed with the U.S. Securities and Exchange Commission, the company’s market value is approximately US $4.3billion. The company would have a fully-diluted value of more than the US $5.4billion if it includes employee stock options, restricted stock units, and restricted stock units.
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Coursera is located in Mountain View, California, and works with over 200 universities and educators to offer courses and certifications.
Coursera reported that its revenue rose to the US $294million last fiscal year thanks to the boom of remote learning during the pandemic. This was in part due to Coursera filings. The net loss of Coursera rose to US $67million from the US $47million during this period.
PitchBook reports that Coursera raised US$130million in July, at a value of US $2.6 million. According to company filings, its backers include New Enterprise Associates and Kleiner Perkins.
Udemy Inc. raised money for another online education startup and indicated to investors it could seek an IPO this fiscal year.
Morgan Stanley and Goldman Sachs Group Inc. are leading Coursera’s offering. The shares of Coursera are expected to start trading Wednesday on New York Stock Exchange under the symbol COUR.