By combining 2U and edX’s global reach and offerings from free to degree, together we believe we can fully realize our shared vision, meet the growing worldwide demand for online education, and deliver growth and long-term value to shareholders and other stakeholders.”įulfilling a commitment to preserve and advance the edX mission, 2U plans to operate edX as a public benefit entity, a class of purpose-driven organizations that balances the interests of shareholders with other stakeholders. “Alongside university partners and contributing faculty, Anant Agarwal and the edX team have built an innovative, respected, and globally recognized destination for online higher education. “2U and edX were founded on a shared vision that online education has the power to expand access, create opportunity, and transform lives,” said 2U Co-Founder & CEO Christopher “Chip” Paucek. The combined scale, reach, capabilities, marketing efficiency, and relationships of 2U and edX will unlock unprecedented opportunities to reach and serve more learners, universities, and employers worldwide. Over the past decade, 2U and edX have each built mission-driven organizations grounded in the belief that online education and greater access to the world’s best nonprofit universities can change lives and impact generations to come. 2U is the digital transformation partner of choice for more than 80 of the world’s leading universities and expects to approach $1 billion in yearly revenue by the end of 2021, and edX has built one of the world’s strongest online education brands and largest global communities of learners. The transaction will bring together the unique strengths and complementary capabilities of two major forces in online education. Drawing on insights gained at Harvard, MIT, and other institutions, this organization will develop strategies and partnerships to help close the learning gap. Proceeds of the transaction will flow to the nonprofit that will continue under the leadership of edX founders Harvard and MIT and will be dedicated to reimagining the future of learning for people at all stages of life, addressing educational inequalities, and continuing to advance next generation learning experiences and platforms. Together, 2U and edX will reach over 50 million learners globally, serve more than 230 partners, and offer over 3,500 digital programs on the world’s most comprehensive free-to-degree online education marketplace. 2U will acquire substantially all of edX’s assets for $800M in cash. 2U, Inc., a global leader in education technology, and edX, a leading online learning platform and education marketplace, announced they have entered into a definitive agreement to join together in an industry-redefining combination that will help power the digital transformation of higher education, expand access and affordability, and usher in a new era of online learning.
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