2U files for IPO worth up to $100M
- Online learning company 2U Inc. filed for IPO Friday, with its stock expected to list on the NASDAQ under "TWOU."
- The company's cloud-based online learning platforms help simplify services such as enrollment, education, and support for nonprofit higher education institutions. 2U hopes to raise as much as $100 million.
- Additionally, 2U announced Monday that former Bank of America Corp. and Citigroup Inc. executive Sallie Krawcheck will join its board, along with Andrew W. Mellon Foundation President Earl Lewis.
Billed by VentureBeat as "The biggest ed-tech IPO you've never heard of," the filing was mum on the number of shares up for grabs, as well as their expected price. Money raised will further expand marketing, tech investment, and ongoing services and support for the company, founded in 2008, which counts UNC, USC, Northwestern, and Berkeley among its partner institutions.
While this is the biggest IPO news in the ed-tech space thus far, companies like Instructure are still waiting in the wings and may now feel a little more push to pull the trigger in the coming months.
- Reuters Online learning company 2U files for IPO of up to $100 million
- VentureBeat 2U: The biggest ed-tech IPO you’ve never heard of
- Bloomberg Businessweek Krawcheck Nominated to Board of 2U Ahead of Education Firm’s IPO
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