Coursera is an online learning platform that was founded in 2012 by Stanford University computer science professors Andrew Ng and Daphne Koller. It operates as a massive open online course (MOOC) provider, partnering with universities and organizations to offer a wide range of online courses, certifications, and even degree programs in various subjects. As of 2021, Coursera has collaborated with approximately 150 universities and offers over 4,000 courses.
The history of Coursera dates back to 2011 when Ng and Koller began offering their Stanford courses online. The positive response led them to establish Coursera as a dedicated platform, attracting initial partnerships with prestigious institutions like Princeton, Stanford, the University of Michigan, and the University of Pennsylvania.
In recognition of its achievements, Coursera received the Webby Winner and People’s Voice Winner awards in the Education category in 2014.
Financially, Coursera has experienced significant growth. While its revenues rose from $184 million in 2019 to $294 million in 2020, the company has not yet turned a profit. In 2020, Coursera incurred a loss of $66 million due to increased investments in marketing and advertising. However, its revenue continued to grow in the first quarter of 2021, reaching $88.4 million.
Coursera has secured several rounds of funding throughout its existence. It initially raised $16 million in its funding round, backed by Kleiner Perkins Caufield & Byers and New Enterprise Associates. Subsequent funding rounds included $63 million in Series B funding led by GSV in 2013, over $60 million in Series C funding led by NEA in 2015, and $64 million in Series D funding from existing investors in 2017. In 2019, Coursera raised $103 million in a Series E round from the SEEK Group, Future Fund, and NEA. The company’s valuation exceeded $1 billion in 2019, and in July 2020, it secured $130 million in Series F funding, elevating its valuation to $2.5 billion.
Coursera continues to be a prominent platform for online education, offering learners worldwide access to high-quality courses and certifications from renowned institutions, fostering lifelong learning opportunities.
How does it works?
Coursera is a renowned online learning platform with a global reach. It provides individuals with the opportunity to access a wide range of online courses and degree programs offered by top universities and companies from around the world. Whether you’re looking to enhance your skills, explore new subjects, or earn a degree, Coursera offers a flexible and accessible learning experience.
Here’s how Coursera works:
- Course Selection: Coursera offers a vast catalog of courses covering various disciplines, including arts, science, technology, business, and more. Learners can browse through the extensive course list and select the ones that align with their interests and goals.
- Enrolling in Courses: Once you find a course of interest, you can enroll in it. Most courses on Coursera are self-paced, allowing you to start and complete them at your own convenience. Some courses have specific start dates and durations, offering a structured learning experience.
- Course Content: Coursera courses consist of video lectures, interactive quizzes, readings, assignments, and discussions. The content is designed to provide a comprehensive understanding of the subject matter and facilitate active learning.
- Learning at Your Pace: With Coursera, you have the flexibility to learn at your own pace. You can access course materials and complete assignments based on your schedule. This makes it suitable for individuals with various commitments, such as work or personal responsibilities.
- Certifications and Degrees: Upon successful completion of a course, you may receive a certificate to showcase your achievement. Coursera also offers specialized certifications and even full degree programs in
Business Model: Coursera operates on a business model that involves various revenue streams and partnerships. Here are the key elements of Coursera’s business model:
- Verified Certificates: Coursera introduced fee-based verified certificates in 2013, allowing learners to authenticate their course completion. This has been a significant revenue source for the company.
- Specializations and Grades: In 2016, Coursera introduced fees for earning grades and assessments in the majority of its courses. Learners can pay for a more comprehensive learning experience and receive graded assignments.
- Coursera for Business: Coursera launched Coursera for Business in 2016, targeting the corporate e-learning market. This enterprise product offers customized learning solutions for organizations, providing a new revenue stream for Coursera.
- Subscription Model: In 2016, Coursera introduced a monthly subscription model for Specializations, allowing learners to access multiple courses within a specific subject area. Subscription costs vary based on the topic.
- Coursera for Governments & Nonprofits: Coursera expanded its offerings in 2017 to include partnerships with governments and nonprofits, providing tailored learning programs for these organizations.
Strategic Partnerships: Coursera collaborates with over 200 partners across 29 countries, including universities, colleges, corporations, and governments. Some notable partnerships include University of São Paulo, University of London, Indian School of Business, Yonsei University, Yale, University of Illinois, University of Pennsylvania, and Google.
Products and Services: Coursera offers a wide range of online courses and services. Here are the key offerings:
- Courses: Coursera provides courses that typically span four to twelve weeks, with weekly video lectures, quizzes, exercises, assignments, and optional projects or exams. Courses can be taken on-demand or follow a structured schedule.
- Guided Projects: Coursera offers short, hands-on guided projects that can be completed in 2-3 hours, allowing learners to gain practical skills in a specific area.
According to Coursera’s Impact Report 2020, some of the most popular courses on the platform include contact tracing, digital marketing, project management, Python programming, and social psychology.
Degrees: Coursera expanded its offerings to include complete master’s degrees starting in 2017. Initially, they offered a Master’s in Innovation and Entrepreneurship (OMIE) from HEC Paris and a Master’s of Accounting (iMSA) from the University of Illinois. Since then, they have introduced additional degrees such as the Master of Computer Science in Data Science and Master of Business Administration (iMBA), both from the University of Illinois. These degree programs provide comprehensive education in specific fields.
Professional Certificates: Coursera collaborates with notable companies like Google, IBM, and Meta to offer professional certificate programs. These programs aim to equip students with the necessary skills for various sectors, including data analytics, IT support, digital marketing, UX design, project management, and data science. Google, in particular, recognizes these certificates as equivalent to 4-year degrees and has even provided scholarships to support learners pursuing these certifications.
Impact: In response to the COVID-19 pandemic, Coursera launched the course “Science Matters: Let’s Talk About COVID-19” in collaboration with the Jameel Institute at Imperial College London. This course became the most popular offering on Coursera in 2020, with over 130,000 enrolled learners. It was designed to provide reliable information about COVID-19 and was presented by esteemed researchers from the Jameel Institute and Imperial College.
Outreach and Sponsorship Programs: In March 2020, Coursera and its partners sponsored over 115 certification courses as part of an outreach initiative to support individuals affected by the pandemic. This program aimed to assist those who experienced job loss, salary reductions, or a desire to enhance their skills. While the sponsored program ended on December 31, 2020, Coursera continues to offer many free courses that can be audited by learners.
Benefits and Perks:
At Coursera, we prioritize the well-being and success of our employees. As we continue to grow as a company, we constantly expand our range of benefits and perks. Here are some of the advantages we offer:
Lifelong Learning: We believe in the power of education. Coursera covers the cost of tuition, allowing you to earn a free master’s degree and acquire new skills. Additionally, you have lifelong access to our platform, enabling you to explore courses and earn certificates at any time.
Health and Wellness: Your well-being is important to us. We provide comprehensive medical, dental, and vision insurance for you and your dependents. In addition, we offer free access to counseling and mental health services, ensuring your overall wellness.
Parental Leave: When you welcome a new child into your life, we support you with up to 16 weeks of fully-paid parental leave. We understand the importance of family and strive to create a supportive environment for all employees.
Make-a-thon: Twice a year, we organize Make-a-thon events to foster community and innovation. During these events, you’ll have the opportunity to participate in workshops, pursue passion projects, and explore ideas beyond your regular work, encouraging creativity and collaboration.
Time Away: We understand the need for personal time. You can take paid time off when necessary, and our time off policies promote flexibility, allowing you to tailor your work schedule to accommodate life’s demands.
Remote Work: We embrace flexible work arrangements. You have the option to work from the comfort of your home, utilize our office spaces, or even create a hybrid work model that suits your needs.
Equity: As an employee, you’ll have the opportunity to earn company stock, enabling you to become a part-owner of Coursera. By sharing in our success, you’ll have a vested interest in the growth and achievements of our company.
We are committed to providing a supportive and inclusive work environment where our employees can thrive personally and professionally. As we continue to evolve, we will continually enhance our benefits package to meet the evolving needs of our Courserians.
