Coursera, an online education platform offering courses in a variety of subjects, announced terms for its IPO on Monday.
The Mountain View, CA-based company plans to raise $495 million by offering 15.7 million shares (7% insider) at a price range of $30 to $33. New investors Baillie Gifford and Capital Research intend to purchase up to $125 million worth of shares in the offering. At the midpoint of the proposed range, Coursera would command a fully diluted market value of $5.1 billion.
Coursera has built a global platform connecting learners, educators, and institutions, providing educational content that is affordable, accessible, and relevant. The company partners with over 200 leading educational institutions and industry partners to bring quality higher education to a broad range of individuals, academic institutions, organizations, and governments. As of December 31, 2020, more than 77 million learners had registered on the platform, and over 2,000 organizations, 4,000 academic institutions, and 300 government entities had used the platform to upskill and reskill their employees, students, and citizens.
Coursera was founded in 2011 and booked $294 million in revenue for the 12 months ended December 31, 2020. It plans to list on the NYSE under the symbol COUR. Morgan Stanley, Goldman Sachs, Citi and UBS Investment Bank are the joint bookrunners on the deal. It is expected to price during the week of March 29, 2021.
