COUR begins trading on the NYSE

The New York Stock Exchange welcomes Coursera (NYSE: COUR) today, Wednesday, March 31, 2021 in celebration of its IPO. To mark the occasion, Coursera founders Andrew Ng and Daphne Koller and Coursera’s CEO Jeff Maggioncalda virtually ring The Opening Bell®.

NYSE

Education technology company Coursera opened its shares on Wednesday for $ 39 apiece when it debuted on the New York Stock Exchange.

On Tuesday, Coursera valued its 15.73 million shares at $ 33 each – the high end of its original target range of $ 30-33. In its offering, the company raised nearly $ 520 million at an implied valuation of $ 4.3 billion.

Shares rose roughly 18% after opening, giving the company a market cap of around $ 5.13 billion. Coursera was last valued at $ 3.6 billion in the private market, according to PitchBook.

Founded in Mountain View, Calif., In 2012 by former Stanford University computer science professors Daphne Koller and Andrew Ng, the company provides individuals with access to online courses and degrees from top universities, a company that hit during the Covid-19 pandemic is booming.

Revenue rose 59% to $ 293 million last year. However, Coursera’s net losses rose from $ 46.7 million in 2019 to $ 66.8 million as the company added more than 12,000 new degrees for undergraduate students in the past two years. The total number of registered users increased by 65% ​​in 2020 compared to the previous year.

“”[When] We started with Andrew and Daphne in 2012, it was kind of B2C – put some courses up and see who wants to come from all over the world … [since then] 77 million people came to Coursera.org; 30 million during the pandemic, “CEO Jeff Maggioncalda said on CNBC’s” Squawk Alley “Wednesday morning before the shares began trading.

“Almost every student was forced to study online. Almost every teacher was forced to teach online. This huge forced experiment was difficult in some ways, but it also introduced a new way of learning, one for affordability, quality and that Quality is assumed to be convenience. “

Maggioncalda joined Financial Engines in 2017 after 18 years, an investment advisory firm he founded and floated on the stock exchange in 2010, before the merger with Edelman Financial Services in 2018 as CEO of the company.

“This institutional learning, where people learn at work and even earn fully accredited bachelor’s and master’s degrees while they work … we think this is what the future really looks like,” added Maggioncalda.

The New York Stock Exchange welcomes Coursera (NYSE: COUR) today, Wednesday, March 31, 2021 in celebration of its IPO. To mark the occasion, Coursera founders Andrew Ng and Daphne Koller and Coursera’s CEO Jeff Maggioncalda virtually ring The Opening Bell®.

NYSE

According to the company’s IPO prospectus, as of December 31, 2020, more than 150 universities were offering more than 4,000 courses on the Coursera platform with over two dozen degree programs.

A bachelor’s or master’s degree completed through Coursera can cost anywhere from $ 9,000 to $ 45,000. The company also offers a variety of educational certificates and professional skills courses, priced between $ 9.99 and $ 99.

During the pandemic, Coursera worked with more than 330 government agencies in 70 countries and 30 states and cities to work with more than 330 government agencies in 70 countries and 30 states and cities, through the Coursera Workforce Recovery Initiative, which gives governments free access to thousands of courses on business, technology, and data to the unemployed Companies like Amazon and Google.

“We see education as a lifelong opportunity and a lifelong commitment for most people,” said Maggioncalda on Wednesday. “What happened to industry after industry is now happening to education. Technology can lower costs and improve access and affordability, and that’s exactly what we’re seeing with deals on Coursera.”

Coursera has compiled the CNBC Disruptor 50 list multiple times and most recently ranked 4th on the 2020 list.

Morgan Stanley and Goldman Sachs were the primary insurers for Coursera’s offering. The stock is traded under the ticker symbol “COUR”.

Comments are closed.