Coursera determines its share price at $33, which raises $519 million and gives it its market capitalization of $4.3B.
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COURSERA PRICES IPO AT TOP OF RANGE TO RAISE $519 MILLION
Coursera Inc., an online education provider has set its share price at the top of the market in its initial public offering in order to raise the US $519million.
The company and the stockholders who sold purchased 15.73 million shares on Tuesday at the US $33 per share. They were advertised at a price of US $30-$33 range.
Based on the shares the company has submitted to the U.S. Securities and Exchange Commission The market value of the company is about the US $4.3billion. The company could have a value that is fully diluted of more than the US $5.4billion when it is comprised of employee stock options and restricted stock units or the restricted stock unit.
It operates in Mountain View, California, and collaborates with more than 200 schools and educators to provide courses and certificates.
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It has announced that its revenue was up to the US $294 million in the last fiscal year because of the explosion of online learning that occurred during the epidemic. This is in part caused by Coursera filings. The net loss for Coursera was increased to US $67million from the US $47million in the period.
PitchBook has reported that it has raised USD130million in July, which is an amount that was the US $2.6 million. According to the company’s filings, the backers are New Enterprise Associates and Kleiner Perkins.
Udemy Inc. raised money to fund a second online education startup and told investors that they could be looking to launch an IPO this year.
Morgan Stanley and Goldman Sachs Group Inc. are the main sponsors of Coursera’s offerings. Shares of Coursera are scheduled to begin trading on Wednesday on the New York Stock Exchange under the symbol COUR.