Coursera files for IPO amid online learning boom

Coursera files for IPO amid online learning boom

The Covid-19 pandemic led to a boom in online learning that has increased the revenue of education technology company Coursera.

Education tech company Coursera filed its IPO prospectus with the Securities and Exchange Commission on Friday, and plans to list on the New York Stock Exchange under the symbol "COUR."

The Mountain View, California-based company offers individuals access to online courses and degrees from top universities, a business that boomed during the Covid-19 pandemic.

Coursera has made the CNBC Disruptor 50 list multiple times and most recently ranked No. 4 on the 2020 list.

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 year over year, reaching $66.8 million in 2020.

"Our revenue significantly increased due primarily to an increase in the number of enrollments during the Covid-19 pandemic," the company's IPO prospectus stated. "Likewise, we have experienced a significant increase in our operating costs associated with our services, primarily driven by our freemium offerings and marketing efforts. As the pandemic made remote work and online learning more widespread, it is uncertain what impact the tapering of the Covid-19  pandemic could have