Coursera was founded in 2012 by Stanford University computer science professors Andrew Ng and Daphne Koller. Ng and Koller were inspired by their experiences offering their Stanford courses online in fall 2011, and soon after left Stanford to launch Coursera. Princeton, Stanford, the University of Michigan and the University of Pennsylvania were the first universities to offer content on the platform. Offerings have since expanded to include Specializations – collections of courses that build skills in a specific subject – as well as degrees and a workforce development product for businesses and government organizations.
Funding
The startup raised an initial $16 million funding round backed by Kleiner Perkins Caufield & Byers and New Enterprise Associates. In 2013, the World Bank Group led the Series B investment, which totaled $63 million. In 2015, EDB Investments led the Series C round of venture funding, which totaled more than $60 million. In 2017, the company raised $64 million from its existing investors in Series D round of funding. In 2019, the company raised $103 million in Series E round of funding from the SEEK Group, Future Fund and NEA. The company reached valuation of $1 billion+ in 2019. In July 2020, the company accounced it had raised $130 million in Series F funding and updating its valuation to $2.5 billion.
Coursera courses last approximately four to twelve weeks, with one to two hours of video lectures a week. These courses provide quizzes, weekly exercises, peer-graded assignments, an optional Honors assignment and sometimes a final project or exam. Courses are also provided on-demand, in which case users can take their time in completing the course with all of the material available at once. Coursera offered 104 on-demand courses it also provides guided projects which are short 2-3 hour projects that can be done and it is very useful for college going students . As of 2017 Coursera offers full master's degrees. They first started with Master's in Innovation and Entrepreneurship from HEC Paris and Master's of Accounting from the University of Illinois, but have moved on to offer Master of Computer Science in Data Science and Master of Business Administration, both from University of Illinois., Also as part of MBA; there are some courses are offered separately and will be included in the curriculum of MBA when being enrolled in like digital marketing courses.
Business model
In September 2013, it announced it had earned $1 million in revenue through the sale of verified certificates that authenticate successful course completion. Coursera first rolled out a series of fee-based course options, which included verified credentials for completion, in 2013. As of October 2015, the company had raised a total of $146.1 million in venture capital. In January 2016, Coursera rolled out fees to earn grades and assessment for "the vast majority of courses that are part of Specializations." The company offers Financial Aid to people who demonstrate a need. In July 2016, the company launched an enterprise product called Coursera for Business. TechCrunch notes that the company, "opened itself to additional revenues from the lucrative corporate e-learning market, which some reports suggest was worth $12 billion in the US alone." Coursera for Business customers include L’Oréal, Boston Consulting Group, and Axis Bank. In October 2016, Coursera launched a monthly subscription model for Specializations along with a 1 week free trial. The company has said subscription costs will vary, "depending on the topic area." In January 2017, the company launched Coursera for Governments & Nonprofits. Coursera has announced partnerships with the Institute for Veterans & Military Families in the United States and entities in Egypt, Mongolia, Singapore, Malaysia, Pakistan, and Kazakhstan. In June 2017, Jeff Maggioncalda became the CEO of Coursera. In March 2018, Coursera launched six fully online degree courses including the bachelor's and master's qualifications in various domains.
