I was looking into starting a new course on Coursera after a long time away from the platform, and I was very disappointed to see the state of it now with Coursera Plus putting all courses behind...
I was looking into starting a new course on Coursera after a long time away from the platform, and I was very disappointed to see the state of it now with Coursera Plus putting all courses behind a paywall with only the first module available for free. I came across this older article from ClassCentral discussing this move, where they covered why it's taken this direction.
After failing to boost the stock price through layoffs and stock buybacks, Coursera replaced its long-time CEO with Amazon veteran Greg Hart.
In Hart’s first full quarter as CEO, he raised Coursera’s 2025 revenue outlook by $17 million, projecting a range of $738 million to $746 million. During the earnings call, CFO Ken Hahn attributed the current quarter’s growth to “strong receptivity to our Coursera Plus subscription offerings and marketing campaigns, including localized promotions and pricing that benefited our paid conversion rate.”
Hart indicated the additional $17 million will come from the consumer business, which he described as having “a more responsive model.” This suggests Coursera can adjust pricing strategies more aggressively to maximize revenue, and the upcoming Preview Mode rollout is part of this approach.
Previously when MOOC providers implemented paywalls, it was done in the guise of sustainability. Yet Coursera’s financials tell a different story. The company has never been stronger financially, generating $29 million in free cash flow last quarter alone while maintaining $775 million in cash reserves.
This move appears to be designed primarily to boost a stock price that, despite the recent surge, remains 73% below its IPO level.
And now, this report mentions that partners who host their courses will have to now pay a fee.
In an email to partners, Coursera justified the new fee as necessary to “sustain progress and continue investing in innovation” in what it calls “the most transformative era yet.” The company outlined four areas where the platform fee will supposedly support investment: AI-powered discovery features, content optimization tools, assessment and validation improvements, and expanded global reach.
But here’s where the story gets interesting: Coursera doesn’t actually need the money.
According to the company’s Q3 2025 financial results, Coursera is sitting on nearly $800 million in cash and cash equivalents. During the earnings call, outgoing CFO Kenneth Hahn boasted that “Year-to-date, we’ve delivered more than $80 million of free cash flow, representing 55% year-over-year growth and reinforcing our strong financial position.”
So if Coursera is flush with cash and generating strong free cash flow, why impose a new fee on partners? The answer seems obvious: to boost margins and goose the stock price.
I like learning, but I don't like the business that education has become, and I particularly don't like that it's influenced by enshittification that plagues the internet at large today in pursuit of higher stock prices and profit.
I was looking into starting a new course on Coursera after a long time away from the platform, and I was very disappointed to see the state of it now with Coursera Plus putting all courses behind a paywall with only the first module available for free. I came across this older article from ClassCentral discussing this move, where they covered why it's taken this direction.
And now, this report mentions that partners who host their courses will have to now pay a fee.
I like learning, but I don't like the business that education has become, and I particularly don't like that it's influenced by enshittification that plagues the internet at large today in pursuit of higher stock prices and profit.