Coursera’s founders and CEO rang the opening bell of the New York Stock Exchange today, as the online-learning company became a rare edtech enterprise to go public. And because it’s a pandemic, the event was online and the bell was virtual (perhaps fitting for an online-learning company).
Of course, the money the company is raising is very real—nearly $520 million. But what does the change mean for colleges and the higher ed landscape?
EdSurge talked with Coursera’s CEO, Jeff Maggioncalda, today to ask him what this unicorn company, valued at more than $3.6 billion according to PitchBook, plans to do now. Here are the takeaways:
Coursera Already Had Cash, But Now It Can Add … More AI?
Apparently Coursera went into the IPO with $275 million in the bank, bringing its total coffers to nearly three-quarters of $1 billion in cash, according to Maggioncalda.
What does it need all that for?
For one thing, more robot teaching-tech behind the scenes.
“We are always building more AI into the teaching experience and the learning experience,” he said. “On the learning side, that means more personalized learning. On the teaching side, [it means] improved student-success dashboards that predict every student’s grade every day and predict the chance that students stop [out of] the degree program.”