Her co-founder and fellow Stanford professor Andrew Ng said the online courses would open up university to many more students and "credit-bearing college courses is a huge milestone toward that goal".

BBC: Gates Foundation funds online university open access

Founded by two Stanford computer science professors, Daphne Koller and Andrew Ng, who took a leave to start Coursera, the company has yet to lay out a plan for generating revenue.

FORBES: Free Online Education Site Announces Big Expansion

Coursera, recently founded by Stanford professor Andrew Ng, will offer not only free online courses, but also a great deal of individualized instruction in the form of grading, testing, student-to-student help and certificates of completion.

CNN: Do we need a revolution in higher education?

T. and Coursera, founded by Stanford computer science professors Andrew Ng and Daphne Koller, offering MOOCs taught by professors at top schools like Harvard and Stanford and lesser known institutions like the University of Maryland at College Park.

FORBES: Free Online College Courses Take Big Step Forward