Bullish Thesis on Coursera: A Differentiated Positioning in EdTech

Coursera, Inc. is a bullish investment thesis presented by Thanh's Value Investing Blog's Substack. The company operates in the EdTech sector, which is seen as out of favor due to concerns about the impact of generative AI on the original MOOC model. However, Coursera's differentiated positioning and low EV/FCF multiple make it an attractive long-term investment opportunity. The company's core customer base is not threatened by AI, and its focus on credentials and structured learning paths provides a valuable service to learners. Management is executing on AI-native product development, content creation, and pricing optimization, setting up Coursera for potential upside.