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"Princeton, Penn and Michigan will join Stanford University and the University of California at Berkeley as partners of Coursera, a company founded earlier this year by the Stanford engineering professors Daphne Koller and Andrew Ng. Using Coursera's platform, the universities will produce free, online versions of their courses that anyone can take."

"Just three months ago, the University of Michigan and Indiana University made a joint decision to "pause investment" in the Sakai OAE project. The latest news is that the University of California Berkeley and Charles Sturt University (in Australia) have also decided to leave the Sakai OAE project. The only schools remaining as part of the Sakai OAE Steering Group are New York University, Cambridge University, and Georgia Tech."

Now, with $16 million in venture capital funding from Kleiner Perkins Caufield & Byers (KPCB) and New Enterprise Associates (NEA), the two professors officially launched Coursera, their new online education company that includes partnerships with Princeton University, Stanford University, the University of Michigan and the University of Pennsylvania to offer web-based classes on the Coursera platform for free. A total of 37 undergraduate and graduate-level courses across a broad range of disciplines will launch this spring.

Coursera's leaders say they are actively pursuing only two of the moneymaking ideas on the list: charging students who pass the courses a small fee for a certificate, and serving as a matchmaker between students looking for jobs and companies seeking qualified employees.