Coursera’s shares are priced at $33, which is the highest IPO range and raises $519M. This gives it a market price of $4.3B.
Coursera Inc., an online education provider, priced its shares at the highest point of a marketed range during an initial public offering (the US $519 million).
Coursera and its selling stockholders sold 15.73 million shares Tuesday for US$33 each, after being marketed for the US $30-US $33 each, according to a statement.
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Based on the number of shares outstanding, the listing gives the company a market valuation of approximately US $4.3 billion. It would be worth more than the US $5.4 trillion if it included employee stock options as well as restricted stock units.
Coursera is a California-based company that works with more than 200 universities to offer certifications and degree programs.
Coursera’s revenue increased to US $294million last year due to the remote learning boom, as opposed to US 184million in 2019, according to its filing. From the US $47 million, its net loss climbed to the US $67 million.
According to PitchBook, Coursera raised the US $130 million in July for a valuation of US$2.6billion. According to the filings, Coursera has New Enterprise Associates, Kleiner Perkins, and G Squared as its backers.
Udemy Inc., another online education startup, has raised money at a valuation of US$3 billion and told investors that it may pursue an IPO in the coming year.
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Morgan Stanley and Goldman Sachs Group Inc are leading Coursera’s offering. Under the symbol COUR, the shares of the company are expected to trade on Wednesday at the New York Stock Exchange.