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Coursera to raise about $519 million in U.S. IPO at over $4 billion valuation

TechnologyMar 31, 2021 02:45AM ET
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(Reuters) - Online education provider Coursera Inc said on Tuesday it priced its initial public offering (IPO) in New York at $33 apiece, the higher end of its target range that gives the company a valuation of about $4.30 billion.

At this price, the company will raise about $519 million.

Mountain View, California-based Coursera was among the companies to have benefited from a surge in demand for online learning platforms during the COVID-19 pandemic.

Its revenue rose 59% to $293.5 million for the year ended Dec. 31, 2020, the company had said in March while filing for the IPO.

The IPO includes around 14.7 million shares of its common stock, Coursera said in a statement, adding that its selling shareholders were offering around 1.1 million shares.

The company's shares will be listed on the New York Stock Exchange under the ticker symbol "COUR," it said.

Coursera's platform, used by more than 3,700 colleges and universities, offers courses on machine learning, cloud computing and language learning.

Morgan Stanley (NYSE:MS), Goldman Sachs (NYSE:GS) are the lead underwriters for the offering, while Citigroup (NYSE:C) and UBS Investment Bank are acting as the additional bookrunners.

Coursera to raise about $519 million in U.S. IPO at over $4 billion valuation
 

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Comments (2)
Long Bui
Long Bui Mar 30, 2021 10:31PM ET
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Anyone knows what company is that?
Patryk Sl
Patryk Sl Mar 30, 2021 10:28PM ET
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Crazy. Soon every single website will get listed... Stop this madness and start list real businesses
Josef Kohen
Josef Kohen Mar 30, 2021 10:28PM ET
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the same as the dot com 2000
 
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