Seek invests in online learning platforms

Online jobs listing giant Seek says it is investing $142 million in major internet learning platforms Coursera and FutureLearn.

“Both businesses are leveraged to structural trends such as migration of education online and in helping millions of people to adapt to evolving labour markets,” Seek chief executive Andrew Bassat said on Monday.

The Australia-based website operator has paid about $50 million for a minority interest in Coursera, which hosts 3,200 courses from more than 150 universities, and $92 million to acquire 50 per cent of Open University-founded education platform FutureLearn.

Seek said in a statement to the ASX that it expected the two transactions would cut $2 million from the company’s full-year net profit for the current year.

Seek shares were valued at $18.62 before the start of trade on Monday.


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