Business & Investment

Coursera shares up 25% on first day of trading

Coursera Inc. shares rose 25% as they bolted out of the gate on Wednesday, the first day of trading with shares in an online education company.

Coursera shares
+ 31.85%

It opened at $ 39 a share, 18% above the initial public offering price on Wednesday, reaching a daytime high of $ 42.41. In the last check, the stock price rose 25% to $ 41.29.

IPO Price of $ 33 per share At the end of Tuesday, Coursera’s expected range is $ 30 to $ 33 per share.

Coursera offers a variety of free and paid online classes, as well as employee certification programs and corporate skills courses. The company also runs a bachelor’s degree program in collaboration with universities. Through this program, schools accept and teach online courses, leveraging Coursera’s platform and technology.

Coursera IPO: 5 Things You Should Know About Online Education Companies

The COVID-19 pandemic not only accelerated Coursera’s business, but also boosted the company’s public plans, said Ken Hahn, Coursera’s chief financial officer, in an email.

“It accelerated the business because people couldn’t go out anymore, and they ended up taking many Coursera courses,” Hahn said. “The plan was to be published at some point, but as the world changed, the plan went faster.”

The company generated $ 293.5 million in revenue in 2020, up from $ 184.4 million in 2019. Coursera recorded a net loss of $ 66.8 million in 2020, while it recorded a loss of $ 46.7 million the previous year. As of the end of 2020, 77 million people have registered to use the Coursera platform.

Coursera sees many growth paths in the future. The company aims to serve more employees working for its current corporate customers while increasing the number of companies using enterprise products. According to the company’s outlook, Coursera also points out “a substantial opportunity to increase the number of bachelor’s and master’s degree programs in new and existing disciplines within the current network of university partners.”

This pandemic raises awareness of online education tools, and Coursera said in a prospectus that digital learning tools could help facilitate access to quality education.

“The need for technological change in education is exacerbated by the recent global epidemic,” Coursera said in a vision, saying that the future of education is “classroom, work-related education, lifelong learning. Characterized by fusion, “he predicted in online education. It serves as “the primary means of meeting the urgent global demand for new skills.”

Coursera IPO is offered as Renaissance IPOETF
+ 3.96%

S & P 500 has risen 136% in the last 12 months
+ 0.78%

It rose 54% in that span.

Coursera shares up 25% on first day of trading Coursera shares up 25% on first day of trading

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