April 29, 2019
Coursera—the Mountain View, California-based online learning platform founded by Stanford professors Andrew Ng and Daphne Koller in 2012—is now worth well over $1 billion, according to an April 25 report by Forbes.
Indeed, CEO Jeff Maggioncalda told analysts last week that the company had raised an additional $103 million in funding.
“This gives us the resources to more aggressively push on our mission of greater access to quality education and greater opportunity for people who are being left behind in this economy,” he said.
According to its website, Coursera now has 35 million learners more than 150 university partners; and offers over 2,700 courses and more than 250 specializations.
Specifically, at a cost of $49 to $99 per month, Coursera offers 14 online masters degrees, in computer science, business and public health—from schools like the University of Michigan and the University of Illinois at Urbana-Champaign. And it just launched its first online bachelor of science degree with the highly regarded University of London.
In addition, its revenue—which Forbes pegged at $140 million in 2018—is fueled in part by partnerships with 1,800 enterprise customers, who use it to provide continuing education to their staffs. They include Adobe, which paid Coursera an estimated $150,000 last year to provide machine-learning courses to its employees.
What’s more, Coursera sealed its biggest deal ever just there months again, when it contracted with the Abu Dhabi School of Government, an entity set up to train 60,000 government employees in digital skills like data science and artificial intelligence.
What’s its secret? Forbes says, that in comparison to more expensive digital degree providers, Coursera does no course production and takes only 40% of tuition. Its marketing costs are low, says Maggioncalda, because it already reaches a huge number of learners.
One example of a low-cost Coursera degree: its online iMBA from the University of Illinois’ highly ranked Gies College of Business, which costs $22,000. Out-of-state students pay $75,000 in tuition for an on-campus degree.
Readers can expect the economical costs and high quality of the curriculum to keep Coursera on high-growth tear. After America, Coursera’s greatest growth is anticipated to be in India, China, Mexico, and Brazil, in that order.
Research contact: @coursera