Coursera, free online education provider, nabs $43M from World Bank. The company will use these funds to boost its online education program worldwide by doubling its employees and making its mobile apps.
Coursera is an online education start-up that provide free classes to its more than 4 million enrolled students. These free online lectures are started by computer-science professors Daphne Koller and Andrew Ng of Stanford University in 2011. Coursera is currently offering 395 classes through its 83 online institutions. World Bank found out that this start up is actually providing high level of education to all for nothing. Hence its investor companies GSV Capital Corp., Learn Capital, Laureate Education Inc. and International Finance Corp has granted a total of $43 million fund to this start-up, as reported by Bloomberg.
Coursera co-founder Daphne Koller shows intentions to use this amount to hire more university professors for online classes. Coursera will actually double the amount of its employees in order to boost its free online education program worldwide. The company will also use this amount in building its own mobile apps for taking classes. It will provide its students a facility to take class from anywhere around the world. This start-up has competitors also like Udacity Inc. which was also founded by another Stanford professor Sebastian Thrun.