(Reuters) – Online education provider Coursera Inc on Friday filed for a stock market listing with U.S. regulators, revealing a surge in revenue from a boost to business due to the disruption caused by the COVID-19 pandemic.
Revenue rose 59% to $293.5 million for the year ended Dec. 31, 2020, the company said in a filing. (https://bit.ly/3kQRGBz)
It launched “Coursera for Campus” in response to the pandemic to help educational institutions offer courses to stuck-at-home students.
Online learning platforms also benefited as retrenched employees took online courses to rotate into new careers.
Mountain View, California-based Coursera was founded in 2012 and its investors include venture capital firm GSV Capital and Kleiner Perkins.
The company raised $130 million in funding in July, bringing its cash balance to more than $300 million.
Other online learning portals such as Nerdy Inc and Skillsoft chose to go public through deals with blank-check firms as well.
Coursera’s net loss widened to $66.8 million for the year ended Dec. 31, from a $46.7 million loss a year earlier.
Morgan Stanley, Goldman Sachs and Citigroup are among the underwriters for the education technology company’s offering.
(Reporting by Niket Nishant in Bengaluru; Editing by Sriraj Kalluvila and Shounak Dasgupta)