Coursera's verified certificates earn the site $1 million in revenue

Coursera has been instrumental in providing for massive online education in the past couple of years. The online course provider has hit a milestone that could well go on to shape how the Massively Open Online Course (MOOC) field works in the future. Coursera has managed to earn $1 million in revenue through its verified certificate programme.

The service kicked off the verified certificate programme called Signature Track only in January this year and it has already turned into one of its biggest source of revenue. The programme has already seen more than 25,000 sign ups from students around the world.

Signature Track programmes working out well

“As a young start-up, we are humbled to have reached this milestone within nine months of launching Signature Track. More importantly, the success of the Signature Track program validates the potential for students to benefit from what is becoming a brand new currency for lifelong learning achievement,” the team wrote in a blog post.

More from News & Analysis

What is the US HIRE Bill and why is India’s $250-billion IT sector worried? Is the internet dead? What's this theory that OpenAI's Sam Altman says might be true?

For those not in the know, Coursera provides online courses from universities around the world for free. After you’ve completed the course satisfactorily, you are furnished with a certificate for the same. The Signature Track programme provides students the opportunity to authenticate their credentials to gain certificates that are more valuable.

When students sign on to a course offering a Signature Track programme, they’re made to validate their identity via webcam as well as are subjected to keystroke monitoring throughout the course. Once they’re done with the course, Signature Track students are offered electronic certification from the University offering the course. They can also share their performance online.

Coursera says that these Signature Track courses are being considered as a serious CV addition by students around the globe. Over 70 percent of those who choose to opt for this programme have a bachelor’s degree or higher and are looking to have the certificate in their CV to make it look a lot more impressive. The company said that people in countries like US, Brazil, China and even India form a huge chunk of students in the Signature Track. The idea seems like a win-win for all and the revenue generated by Coursera only goes on to show that students are aware of it.