Norman Macrae -The Economist pro-youth economist -bravo sir fazle abed & jack ma
we love coursera as it is spiring 2013 - but the questionthat interest us is how to give coursera a busienss model so that its value to youth stays as near as possible as today's extraordinary gifts
wikipedia notes: The contract between Coursera and participating universities contains a "brainstorming" list of ways to generate revenue, including certification fees, introducing students to potential employers and recruiters (with student consent), tutoring, sponsorships and tuition fees 1 As of March 2012, Coursera was not yet generating revenue.[That July, certification and the sale of information to potential employers was being explored. Thus far the company has been funded by $16 million in venture capital awarded in April 2012. John Doerr suggested that people will pay for "valuable, premium services". Any revenue stream will be divided, with schools receiving a small percentage of revenue and 20% of gross profits
The courses that are available for college credit are:
Coursera will offer proctored exams at the end of these courses through ProctorU, an online proctoring service that connects proctors and students via webcam. The service will cost $60–$90.
Coursera Secures $43M in Funding from GSV Capital, IFC, Laureate Ed...Learn Capital and Yuri Milner to Expand Free, High Quality Online Education
Mountain View, CA – July 10, 2013 – Coursera, a leading massive open online course (MOOC) platform, today announced that it has closed $43M in Series B funding from GSV Capital (NASDAQ: GSVC); International Finance Corporation (IFC), the investment arm of the World Bank; Laureate Education Inc., a company that operates high quality, innovative institutions of higher education through its global network; Learn Capital; and noted entrepreneur and venture capitalist Yuri Milner. These investors, spanning the sectors of Internet technology, education technology, and emerging world markets, align with Coursera’s efforts to build the technologies, institutional networks, and global communities necessary to transform global education access. Today’s announcement follows last year’s $22M Series A funding, which included investment by Kleiner Perkins Caufield & Byers and New Enterprise Associates, who will be furthering their investment in this round, as well as University of Pennsylvania and California Institute of Technology, two of Coursera’s University Partners.
"Coursera is on the forefront of transforming the $4.5 trillion dollar learning industry," said Michael Moe, Chairman and CEO of GSV Capital. "In the global marketplace, knowledge is the currency that provides people the opportunity to participate in the future. Coursera is democratizing access to the best universities and professors in the world."
Since its launch in April of 2012, Coursera has experienced remarkable growth and momentum toward its mission to expand quality learning opportunities around the world for free. In the process, it has launched a growing movement among universities and educators to improve on-campus teaching by means of new technologies, as well as a global thirst for educational resources that can work around traditional boundaries, including accessibility and cost, to allow students to learn without limits. Coursera currently works with 83 educational institutions across 4 continents, and offers around 400 free college-level courses to more than 4 million students from every country in the world.
As a social entrepreneurship company and leader in the rapidly accelerating MOOC movement, Coursera is committed to offering free courses to benefit its global audience of learners, while also acknowledging the important role traditional institutions play in the future of education. All universities offering courses on Coursera receive a share of any revenue generated by Coursera’s business strategies, which include verified certificates through Signature Track, course adoption by institutions and companies, and additional upcoming programs.
In the coming months, Coursera aims to double its employees and expand its capacity to deliver the best online teaching and learning experiences in a diverse, global environment. Particular areas of focus will include both technological developments and strategic expansions:
"Demand for education in developing countries is growing rapidly due to population growth and the rising share of students seeking university education," said Elena Sterlin, IFC Senior Manager for Health, Education and Services. "Coursera’s innovative model is a breakthrough in delivering low-cost university and continuing education to students through online courses."
"We created Coursera in response to real and pressing demands for quality, accessible education around the world, and today we are proud to be part of a growing movement that is making a tangible impact on this global challenge," said Andrew Ng, Co-Founder of Coursera. "We’ve only just begun to realize the potential for technology to transform the way professors teach, the way universities and colleges deliver knowledge, and the way people access education, and we look forward to expanding our team, our partners, and our audiences to explore the many possibilities," added Daphne Koller, Co-Founder of Coursera.
About Coursera: Coursera believes in connecting people to a great education so that anyone around the world can learn without limits. Coursera is on a mission to educate millions of people by offering classes from top universities and institutions online for free. Coursera's comprehensive education platform combines mastery-based learning principles with video lectures, interactive content and a global community of peers, offering students a unique online learning experience. Coursera has partnered with top-tier universities and institutions to provide courses across a broad range of disciplines, including medicine, literature, history, computer science and the arts, among others. Coursera is financially backed by California Institute of Technology, GSV Capital, International Finance Corporation, Kleiner Perkins Caufield & Byers, Laureate Education Inc., Learn Capital, New Enterprise Associates, University of Pennsylvania and Yuri Milner. For more information, visit Coursera.org.
Understanding coursera parrner network is going to be critical to understanding whether its long-term future will be pro-youth - keys may include http://wn.com/laureate_education_inc. headquartered in Baltimore (previously sylvan - first private university purchase in spain)
meanwhile IFC of world bank invests in laureate
BALTIMORE, Jan. 23, 2013 /PRNewswire/ -- IFC, a member of the World Bank Group and the IFC African, Latin American, and Caribbean Fund, today announced it has invested $150 million in common stock of Laureate Education, Inc., the leading global provider of private higher education. Representing IFC's largest education investment to date, the funds will be used to help Laureate build upon its significant resources and proven track record of developing and managing career-oriented postsecondary institutions across the globe. Previously, IFC worked with Laureate to finance university campuses in Latin America.
"We are honored by this demonstration of support and confidence from a world class institution like IFC," said Douglas L. Becker, Chairman and Chief Executive Officer, Laureate Education, Inc. "The commitment by IFC demonstrates the strength of Laureate's reputation and allows us to further expand into communities where the demand for quality postsecondary education is outpaced by available resources."
Through its Laureate International Universities network, Laureate Education is a pioneer in higher education, currently operating more than 65 institutions on hundreds of campuses in 29 countries. While each institution is unique, they all share a common goal—to deliver high quality, internationally focused and career-oriented education programs.
"This investment underscores IFC's long-term commitment to supporting education with strategic clients that have the ability to develop much-needed job-market skills," said Rashad Kaldany, IFC Vice President for Global Industries. "Laureate has a unique international perspective on what works in higher education and has proven history of putting its students first. We look forward to continuing our partnership with Laureate to expand access to career-oriented education in emerging markets with strong growth potential in Latin America, the Middle East, and Africa."
Gavin Wilson, CEO, IFC Asset Management Company, said: "We are happy to be investing in Laureate's continued growth. Laureate has built a unique higher education platform with a substantial presence in emerging markets. Our partnership with them will have a significant impact on human development in the countries where Laureate operates."
As a key part of the World Bank Group, IFC is the largest multilateral investor in private education in emerging markets. IFC's education portfolio stands at more than $550 million, encompassing 42 projects in 24 countries, including several of the poorest countries. The total value of these projects is about $900 million. IFC's private education projects have helped benefit 1.4 million students while providing employment for 60,000 people.
About Laureate International Universities Laureate International Universities is a trusted global leader in providing access to high quality, innovative institutions of higher education. The Laureate International Universities network includes more than 65 accredited campus-based and online universities. Our more than 750,000 students are part of an academic community that spans 29 countries throughout North America, Latin America, Europe, Asia, North Africa and the Middle East. Laureate universities offer hundreds of undergraduate, master's and doctoral degree programs in fields including architecture, art, business, culinary arts, design, education, engineering, health sciences, hospitality management, information technology, law and medicine. President William J. Clinton, 42nd President of the United States, serves as the Honorary Chancellor of the Laureate International Universities network, offering advice on social responsibility, youth leadership and increasing access to higher education. For more information, visit www.laureate.net.
About IFC IFC, a member of the World Bank Group is the largest global development institution focused exclusively on the private sector. IFC helps developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. In FY12, their investments reached an all-time high of more than $20 billion, leveraging the power of the private sector to create jobs, spark innovation, and tackle the world's most pressing development challenges. For more information, visit www.ifc.org.
Laureate, which was taken private by a consortium led by its chief executive, Douglas L. Becker, and buyout firm KKR & Co LP (KKR.N) for $3.82 billion in 2007, is in the process of appointing investment banks for the IPO, the people said.
SOURCE Laureate Education, Inc.RELATED LINKS http://www.laureate.net top parners include us thunderbird; france essec ...