2U (company)
 |
|
|
Formerly called
|
2tor Inc. |
|---|---|
| Public | |
| Traded as | NASDAQ: TWOU |
| Founded | 2008 |
| Headquarters | Landover, Maryland, USA |
|
Number of locations
|
Landover, New York, Los Angeles, Denver, Chapel Hill, Hong Kong |
|
Area served
|
Global |
|
Key people
|
Chip Paucek (CEO), Susan Cates (COO), Catherine Graham (CFO), James Kenigsberg (CTO), Harsha Mokkarala (CMO) |
| Services | Education Technology focusing on Postgraduate Education including Course Development, Admissions Services, Student and Faculty Support, Prospective Student Marketing |
|
Number of employees
|
900 (July 2015) |
| Website | www.2u.com |
2U (formerly 2tor Inc.) is an educational technology company that partners with leading nonprofit colleges and universities to offer online degree programs. The company supplies its partner universities with a cloud-based software-as-a-service platform coupled with a suite of technology-enabled services, including coursework design, infrastructural support and capital to deliver instruction to students. 2U was founded in 2008 by John Katzman (founder of The Princeton Review). Co-founders include Chip Paucek (former CEO of Hooked on Phonics) and Jeremy Johnson; Paucek remains with the company as CEO.
In May 2012, Forbes named 2U as one of the “10 Start-Ups Changing the World.” In 2014, Inc. Magazine named 2U one of “10 Tech Companies Helping Humanity.”
The company went public on March 28, 2014, and raised $119 million by offering 9.2 million shares at $13 per share. 2U is traded on NASDAQ under the ticker symbol TWOU.
Prior to its IPO, the company was venture-backed and raised $96 million. Investors included Bessemer Venture Partners, Highland Capital Partners, Redpoint Ventures, Novak Biddle Venture Partners, City Light Capital, SVB Capital and WestRiver Capital.
Business Model:
2U is not a traditional for-profit education company because it does not confer or offer any degrees. 2U provides its university partners with cloud-based software-as-a-service solutions to create online degree programs that feature live video classes, as well as a socially-inclined online learning platform that allows for close interaction between students and professors. The approach, which the company refers to as No Back Row™, also includes a focus on student outcomes with small class sizes, career services, and field placements. This approach has led to a student retention rate of 84 percent. Students pay standard tuition, but instead of going to class once a week, they meet in a live video chat room with the professor and the other students. 2U signs long-term contracts, averaging between 10–15 years in length, with each of its partner universities. Contracts include a revenue sharing agreement between 2U and the school. Course content is also enhanced for mobile devices.
...
Wikipedia