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This article advances knowledge on the factors that lead to successful e-learning in universities, through a comparative study of the perspectives of academic staff and students. In particular, it contributes to the limited knowledge bases on the effectiveness of e-learning in Saudi Arabia, and on the differences in perspectives of different groups of stakeholders in e-learning. Based on previous research, a questionnaire was designed and distributed to convenience samples of academic staff and students at King Saud University, Saudi Arabia. Respondents were invited to express their opinion regarding the importance of a number of factors to the success of e-learning. Principal Component Analysis was conducted on each dataset, in turn, to assess the loading of items onto factors, and the variance explained. The most important finding from this study is that the perspectives of students and academic staff differ, with there being nine factors for academic staff and seven for students. Categories that are common to both groups are: student characteristics, instructor characteristics, ease of access, and support and training. The order for academics is: student characteristics, ease of access, instructor characteristics, and support and training; and, the order for students is: instructor characteristics, student characteristics, support and training, and ease of access.