594:
California would be severing ties with the company. 2U shares dropped 57 percent that day. On
November 17, 2023, Paul Lalljie, 2U's CFO, replaced Chip Paucek as CEO. The Chief Legal Officer Matt Norden became CFO. On January 3, 2024, as part of the continued shake up, Chief Revenue Officer Harsha Mokkarala resigned. Andrew Hermalyn was appointed President of the Degree Program Segment and Aaron McCullough was appointed President of the Alternative Credential Segment.
255:
233:
520:
revenue-sharing pricing model from new and existing clients. Also in 2020, the London School of
Economics agreed to expand its scope business with 2U to include two additional undergraduate degrees in mathematics and finance. In September, 2U and Columbia University's engineering school announced an expansion of their work together, where 2U would help launch the Columbia Artificial Intelligence Program, an online program targeted at working executives.
38:
590:. In June 2022, it was reported that Byju's had put forward an offer of more than US$ 1 billion to acquire 2U. On July 28, 2022, Paucek announced that the company would layoff 20% of its workforce "across the board". In December 2022, a class action suit was filed against 2U and the University of Southern California "defrauded students by using misleading U.S. News & World Report rankings to promote the courses."
293:
276:
209:
770:
1490:
496:(LSE). UoL, LSE and 2U planned to keep the cost of the three-year degree at $ 26,000, far lower than most of 2U's other programs. In September, 2U created a "Framework for Transparency", with a commitment to publishing transparent data on topics including university oversight and accountability, access, quality and outcomes.
681:. GetSmarter was founded in 2008 in South Africa by Sam and Robert Paddock. It offers short-term online courses in partnership with major universities. In 2016, GetSmarter had $ 17 million in revenue and roughly 400 employees. At the time of its acquisition, GetSmarter continued to operate as an independent firm.
508:
in scholarships in increments of $ 2,500 to under-represented demographics, and the recipients would have to demonstrate both need and merit. The scholarships could be applied to about 100 different programs with a strong emphasis on technical training. Later that year, 2U announced a partnership with
725:
provider created by MIT and
Harvard in 2012. MOOCS like edX have typically had low completion rates. In the journal Science, Justin Reich and José Ruipérez-Valiente state that "MOOCs 'will not transform higher education and probably will not disappear entirely either." Instead, they predict that the
527:
announced that it would be delivering hundreds of courses online in order to cope with the COVID-19 crisis. The expanded agreement with
Simmons also provided for the creation of additional degree programs aimed at non-traditional students, with lower tuition than in-person programs. Simmons received
507:
called for 2U and four other online program managers to disclose the terms of their contracts with colleges and universities in order to determine whether they were violating laws meant to safeguard consumers from predatory enrollment practices. In June, 2U announced that it would offer $ 3 million
593:
In 2023 2U sued the US Department of
Education for establishing new rules to provide more oversight of third-party servicers. On September 28, 2023, Chip Paucek announced organizational changes in the company that would require more layoffs. In November, 2U announced that the University of Southern
571:
exposé found that 2U often used aggressive means to recruit students for the
University of Southern California masters in social work and that "USC social-work graduates who took out federal loans borrowed a median $ 112,000. Half of them were earning $ 52,000 or less annually two years later."
519:
2U strongly benefited from the shift to online learning brought on by the response to COVID-19, with a large growth in gross revenue in 2020. The company also reduced its debt. 2U was servicing more than 275,000 students as of late 2020. 2U said that the pandemic also increased interest in its
706:
Trilogy
Education Services was founded in 2015. In June 2017, the company received $ 30 million in a Series A funding round, followed by $ 50 million in Series B funding round in May 2018. It was bought by 2U in April 2019 for $ 750 million in cash and stock.
516:, to offer free online tech bootcamps to current students and alumni. In November, 2U published its first transparency report, which showed it had invested $ 1.3B in its non-profit partners' degree programs, and 72% of students graduate from those programs.
466:, firms offering short-term non-credit training programs. Also in 2017, Paucek earned an MBA online from the University of North Carolina at Chapel Hill, through the school's partnership with 2U. In late 2017, former Obama administration official
1628:
447:
In March 2015, Yale
University and 2U announced that they were partnering in order to offer a full-time, online master of medical science degree. By 2015, about 12,300 students were enrolled in 2U partner programs.
488:
to offer an online master of laws program. On August 6, 2U announced its first undergraduate program, offering a degree in data science and business analytics, as well as six other degrees, from the
392:
to be co-founders. Katzman was the CEO through 2012, when he became chairman and appointed Paucek as CEO. He started 2U because he saw that few highly ranked universities offered online instruction.
477:. Students in this program had an average of 17.5 years of work experience, were an average of 42 years old, and paid $ 50,000 in tuition. The company also moved into a new headquarters.
1779:
699:, through affiliate universities. In-person courses are held on the affiliate university campus. Revenue from the tuition is shared with the affiliate university. Graduates receive a
983:
It's becoming obvious that all schools are going online. We believe this represents a new reality in the marketplace, and requires us and others to adjust to it."– Chip Paucek, CEO
2501:
2526:
432:, were nominated to join the board of 2U. On March 28, 2U went public and raised $ 119 million by offering 9.2 million shares at $ 13 per share. By July, other schools such as
2481:
1710:
2253:
364:
company that contracts with non-profit colleges and universities to build, deliver and support online degree and non-degree programs. It is also the parent company of
1318:
1215:
2038:
664:
2U signs long-term contracts, typically 10 years in length, with its client institutions. Students pay standard tuition. 2U gets paid through revenue sharing.
2223:
1814:
384:
and later, Noodle) originally naming it 2tor (pronounced "Tutor") after his dog Tor. Katzman recruited colleagues including Chip Paucek (former CEO of
1571:
1123:
726:
field will coalesce 'around a different, much older business model: helping universities outsource their online master's degrees for professionals.'"
579:
contracts in which it licenses its courses, through a revenue-sharing agreement, to participating colleges and for its student recruitment practices.
1771:
1545:
2389:
867:
2511:
2496:
2282:
894:
783:
2521:
413:
at the
University of North Carolina started offering an online MBA through 2U the same year. In March 2011, the company raised a $ 32.5 million
1438:
1392:
1344:
695:
Trilogy
Education Services is a New York City-based 2U subsidiary that offers non-credit professional training programs, colloquially known as
1897:
1841:
1367:
1944:
406:. In 2010, 2U partnered again with USC to offer an online degree in social work. This partnership resulted in a 2022 class action lawsuit.
2170:
1748:
1183:
613:. 2U's shares are worth less than $ 15 million and the company has more than $ 900 million in debt. 2U has never made an annual profit.
1519:
1990:
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1919:
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1419:
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807:
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protection. The company plans to continue operating as a private company which will eliminate over $ 450 million of its debt.
1729:
1021:
1657:
1291:
2491:
1242:
2016:
703:
from the partner school and career counseling. The partner schools do not regard program graduates as university alumni.
485:
2065:
821:
646:
621:
2U has operated as an online program manager. 2U has about 70 clients, mostly highly regarded universities, including
441:
224:
2144:
403:
396:
368:. On February 12, 2024, 2U announced "there is substantial doubt about its ability to continue as a going concern."
995:
947:
409:
In 2011, Georgetown University's School of Nursing and Health partnered with 2U to offer a degree program. The
2458:
2117:
410:
389:
122:
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967:
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17:
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634:
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324:
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Prior to starting up the company, Katzman pledged to donate $ 1.5 million for an endowed chair at the
2506:
677:
In early 2017, as its first acquisition, 2U acquired GetSmarter for $ 103 million and a $ 20 million
543:
for $ 800 million cash. Also in June, Netflix and 2U announced an expansion of their boot camps for
1053:
513:
1966:
484:
in Mexico to offer an online MBA program. 2U also partnered with Tecnológico de Monterrey and the
437:
172:
1711:"Democratic Senators Probe Whether Online Degree Programs Contribute to High Student Debt Loads"
1920:"Education company 2U and leader Chip Paucek part ways after high profile USC partnership ends"
576:
361:
194:
189:
1268:
598:
556:
481:
531:
In June 2021, 2U announced a strategic agreement with education assistance benefits manager
552:
489:
381:
213:
1319:"2U's Busy 2019 So Far Includes Partnerships, Global Expansion and a Minority Acquisition"
402:
Katzman funded 2U in 2009 through the launch of its first online teaching degree with the
8:
658:
638:
568:
433:
622:
524:
474:
473:
In 2018, 2U launched the Harvard Business Analytics Program (HBAP) in conjunction with
2254:"Trilogy Education's Unique Approach To Coding Boot Camps Helps It Raise $ 50 Million"
2017:"2U chief revenue officer Harsha Mokkarala departs amid continued leadership shakeup"
544:
462:
385:
73:
1870:
1846:
1629:"Talladega College is one of four schools to benefit from Netflix academic program"
1605:
1576:
1220:
775:
500:
421:
285:
138:
952:
736:
696:
650:
626:
567:
In October 2021, Valerie Jarrett resigned from the 2U Board. In November 2021, a
532:
467:
2283:"Trilogy Education Services Raises $ 30 million to provide skill-based training"
2362:
1775:
456:
Starting in 2017, 2U diversified its strategy and acquired education companies
77:
56:
1815:"University of Southern California Sued Over Education-School Rankings Claims"
1685:"USC Pushed a $ 115,000 Online Degree. Graduates Got Low Salaries, Huge Debts"
586:
was in talks to acquire 2U, along with fellow US education technology company
2475:
745:
523:
Before the start of the 2020–2021 academic year, Boston, Massachusetts-based
504:
414:
64:
2453:
1439:"2U commits $ 3M for underrepresented students to pursue technical training"
868:"What a New Strategy at 2U Means for the Future of Online Higher Education"
754:
642:
377:
117:
2448:
1945:"Shares of ed-tech company 2U plummet 57%, fall below $ 1 for much of day"
2407:
2145:"2U says reorienting around edX is putting it on a path to profitability"
2463:
2066:"2U, Once a Giant in Online Education, Files for Chapter 11 Bankruptcy"
2039:"2U Announces New Organizational Structure and Leadership Appointments"
895:"2U Warns of Substantial Doubt of Ability to Continue as Going Concern"
610:
582:
On May 16, 2022, Bloomberg reported that Indian education tech company
425:
311:
246:
424:, a former executive at Bank of America Corp. and Citigroup Inc., and
583:
1368:"2U plans 6 more bachelor's degrees with London School of Economics"
1100:"2tor Raises $ 32.5 Million Series C To Make Online Education Great"
968:"As Competition Mounts, 2U Signals Big Changes for Online Education"
37:
1491:"'We're removing the stigma of online education long term': 2U CEO"
845:"There Are A Million Education Startups And No One To Acquire Them"
678:
480:
In early 2019, 2U announced that it had entered a partnership with
165:
1124:"Krawcheck Nominated to Board of 2U Ahead of Education Firm's IPO"
1749:"India's Byju's Eyes Chegg or 2U as It Weighs US AcquisitionThem"
509:
2390:"10 Startups Changing the World And What We Can Learn From Them"
2090:
562:
82:
1772:"Byju's Said to Offer Over $ 1 Billion for 2U to Expand in US"
1546:"Columbia Partners with 2U on Artificial Intelligence Program"
1052:
GRUSHKA-COCKAYNE, YAEL; LAKHANI, KARIM R (January 21, 2019).
587:
444:
signed on with 2U to create online graduate degree programs.
268:
1520:"Colleges look to OPMs as pandemic intensifies shift online"
842:
996:"Princeton Review Founder Establishes Endowed Chair at USC"
822:"2tor gets $ 10M credit line - Washington Business Journal"
740:
named 2U as one of the ten "Start-Ups Changing the World".
722:
1898:"USC cuts ties to controversial online degree company 2U"
752:
In 2016, 2U was listed as a "Most Innovative Company" by
716:
630:
540:
451:
365:
319:
1842:"2U Sues Education Department Over Outsourcing Guidance"
1393:"2U Calls for Transparency in Online Program Management"
1292:"CEOs Talk Workplace: Interview with 2U CEO Chip Paucek"
2224:"EdTech Giant 2U Acquires GetSmarter For $ 103 Million"
1051:
749:
named 2U one of ten "Tech Companies Helping Humanity".
2527:
Companies that filed for Chapter 11 bankruptcy in 2024
948:"The 28-Year-Old Bringing Respect to Online Higher Ed"
2482:
Educational technology companies of the United States
1345:"Mexican Business School to Start Online MBA with 2U"
1075:"2U and USC part ways on most online degree programs"
2436:
2197:"Dear Colleges: Take Control of Your Online Courses"
2195:
Hall, Stephanie; Dudley, Taela (12 September 2019).
1601:"2U, edX to Combine to Create Online Learning Giant"
765:
2502:
Companies based in Prince George's County, Maryland
2363:"Can MOOCs Predict the Future of Online Education?"
1730:"The chess game behind senators' inquiry into OPMs"
1022:"USC ed dean: 2U made growing our program possible"
921:"Education Technology Companies Play the Name Game"
1794:"2U is laying off 20% of its workforce – e3d news"
1709:Bannon, Andrea Fuller and Lisa (14 January 2022).
1572:"2U, Guild Tap Deeper Into Adult Education Market"
1683:Bannon, Lisa; Fuller, Andrea (November 9, 2021).
1184:"Yale to offer full-time master's program online"
482:EGADE Business School at Tecnológico de Monterrey
2473:
2118:"2U / edX Facing Additional Existential Changes"
784:For-profit higher education in the United States
338:
1420:"Democratic congressional inquiry targets OPMs"
1269:"Valerie Jarrett to Join 2U Board of Directors"
843:Alyson Shontell, provided by (April 18, 2012).
721:In 2021, 2U announced it would purchase edX, a
2277:
2275:
1359:
1151:"2U goes public, rings opening bell on NASDAQ"
417:, bringing its total funding to $ 65 million.
684:
1682:
1482:
575:In 2022, the company was criticized for its
563:Downsizing and reorganization (2021-present)
2400:
2309:"Online Enabler Aims for Lifelong Learning"
2272:
1769:
1746:
729:
528:services from 2U on a revenue-share basis.
2248:
2246:
2244:
2194:
1967:"2U, Inc. Announces Leadership Transition"
1537:
1513:
1511:
1047:
1045:
1043:
2215:
1097:
254:
232:
1991:"2U's chief legal officer appointed CFO"
1895:
1875:2u.com/latest/organizational-changes-2u/
1727:
1517:
1213:
804:"2U Inc. 2023 Annual Report (Form 10-K)"
2512:Education companies established in 2008
2497:Companies formerly listed on the Nasdaq
2241:
2091:"TWOU Institutional Ownership - 2U Inc"
1508:
1430:
1040:
965:
808:U.S. Securities and Exchange Commission
796:
14:
2522:American companies established in 2008
2474:
2221:
1763:
1740:
1728:Schwartz, Natalie (February 7, 2022).
1708:
1518:Schwartz, Natalie (October 20, 2020).
1488:
1436:
1261:
1235:
1209:
1207:
1205:
1166:
1162:
1160:
945:
452:Growth through acquisition (2017-2021)
1543:
1347:. Inside Higher Ed. February 14, 2019
1337:
1316:
1310:
1181:
27:American education technology company
2360:
2333:
2142:
2063:
1839:
1664:. Securities and Exchange Commission
1598:
1569:
1417:
1365:
1175:
1169:"10 Tech Companies Helping Humanity"
609:2U's largest outside shareholder is
420:In February 2014, 2U announced that
1782:from the original on June 29, 2022.
1464:"New 'Transparency' Report from 2U"
1202:
1157:
492:(UoL), with its member institution
486:Washington University School of Law
24:
2361:Shaw, Jonathan (10 January 2019).
1942:
1868:
966:Johnson, Stevan (August 1, 2019).
959:
647:University of California, Berkeley
442:University of California, Berkeley
25:
2538:
2429:
2387:
2336:"2U and edX Merger Benefits Both"
1489:Guzman, Zack (October 29, 2020).
1249:. The Motley Fool. March 31, 2017
1214:Lederman, Doug (August 6, 2019).
1148:
892:
824:. Bizjournals.com. April 18, 2012
616:
404:University of Southern California
397:University of Southern California
2222:Howard, Caroline (May 2, 2017).
2115:
1812:
1544:Kelly, Rhea (1 September 2020).
865:
768:
292:
291:
275:
274:
253:
231:
208:
207:
36:
2381:
2354:
2327:
2301:
2188:
2163:
2136:
2109:
2083:
2064:Korn, Melissa (July 25, 2024).
2057:
2031:
2009:
1983:
1959:
1936:
1912:
1896:Hamilton, Matt; Ryan, Harriet.
1889:
1862:
1833:
1806:
1786:
1721:
1702:
1676:
1650:
1621:
1592:
1563:
1456:
1411:
1385:
1289:
1283:
1182:Monir, Malak (March 12, 2015).
1142:
1116:
1098:Schonfeld, Erick (2011-03-15).
1091:
1067:
1014:
667:
597:On July 25, 2024, 2U filed for
388:), and technology entrepreneur
349:Footnotes / references
2487:Educational software companies
1871:"Organizational Changes at 2U"
1437:Kidwai, Aman (June 23, 2020).
1167:Kerpen, Dave (July 24, 2014).
1054:"2U: Higher Education Rewired"
988:
946:Joyner, April (July 2, 2012).
939:
913:
886:
859:
836:
814:
535:. The same year, 2U purchased
13:
1:
2517:2014 initial public offerings
2408:"2U: Most Innovative Company"
2019:. Washington Business Journal
1770:Saritha Rai (June 28, 2022).
1153:. Baltimore Business Journal.
972:Chronicle of Higher Education
789:
672:
411:Kenan-Flagler Business School
2444:Business data for 2U, Inc.:
1747:Saritha Rai (May 16, 2022).
655:University of North Carolina
7:
2492:Learning management systems
1317:Staff (February 11, 2019).
1271:. Fortune. December 7, 2017
1243:"Christopher "Chip" Paucek"
761:
604:
430:Andrew W. Mellon Foundation
98:; 16 years ago
10:
2543:
1060:. Harvard Business School.
714:
691:Trilogy Education Services
688:
685:Trilogy Education Services
635:University of Pennsylvania
537:massive open online course
494:London School of Economics
376:2U was founded in 2008 by
371:
325:Trilogy Education Services
2342:. Inside Higher Education
1850:. Inside Higher Education
1609:. Inside Higher Education
1580:. Inside Higher Education
347:
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2367:/www.harvardmagazine.com
2203:. The Century Foundation
730:Recognition in the media
701:professional certificate
514:Norfolk State University
2122:onedtech.philhillaa.com
2070:The Wall Street Journal
1646:(subscription required)
1063:(subscription required)
1058:Harvard Business Review
549:St. Edward's University
438:Northwestern University
279:US$ 1.46 billion (2023)
2340:www.insidehighered.com
2313:www.insidehighered.com
1995:www.complianceweek.com
710:
577:online program manager
362:educational technology
296:US$ 219 million (2023)
195:Online program manager
190:Educational technology
2171:"Transparency Report"
1869:Paucek, Christopher.
1821:. Wall Street Journal
599:Chapter 11 bankruptcy
557:Edward Waters College
127:Christopher J. Paucek
48:2Tor Inc. (2008–2012)
1399:. September 12, 2019
899:www.marketwatch.com/
553:Marymount University
490:University of London
382:The Princeton Review
2143:Schwartz, Natalie.
1715:Wall Street Journal
1689:Wall Street Journal
1570:McKenzie, Lindsay.
1470:. November 19, 2020
1418:Schwartz, Natalie.
1366:Schwartz, Natalie.
1216:"2U Goes Undergrad"
1130:. February 24, 2014
659:University of Texas
639:Columbia University
569:Wall Street Journal
470:joined 2U's board.
434:Syracuse University
428:, president of the
302:Number of employees
32:
2369:. Harvard Magazine
1296:www.workdesign.com
623:Harvard University
525:Simmons University
499:In 2020, Senators
475:Harvard University
30:
1997:. Compliance Week
1550:Campus Technology
1468:Campus Technology
1424:educationdive.com
1397:Campus Technology
1028:. August 29, 2014
545:Talladega College
463:Trilogy Education
386:Hooked on Phonics
355:
354:
16:(Redirected from
2534:
2507:Lanham, Maryland
2439:
2437:Official Website
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2151:. Higher Ed Dive
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1951:13 November
1904:13 November
1825:25 December
1819:www.wsj.com
1751:. Bloomberg
1668:11 November
1662:www.sec.gov
1555:November 2,
1529:November 2,
1500:November 2,
1448:November 2,
1329:December 5,
1194:December 5,
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216:946 million
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2001:3 December
1976:2023-11-21
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1799:2022-08-18
1377:October 8,
1302:18 October
1290:Fox, Bob.
1171:. Inc.com.
1109:2023-06-06
1104:TechCrunch
1084:2023-11-17
1006:9 December
874:. Ed Surge
790:References
673:GetSmarter
611:ARK Invest
458:GetSmarter
440:, and the
426:Earl Lewis
247:Net income
157:Key people
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