2U and edX, the two main players in the online learning ecosystem, Announced on Tuesday They will join forces to create an entity that will reach 50 million learners and provide services to most of the best universities in the United States and the world.
2U is by far the largest listed company of online course management providers. It said it will pay $800 million to purchase the assets of edX, a non-profit online course provider of Harvard University and MIT. Jointly build Nearly ten years ago.
The new partner stated in a press release that the assets of the transaction will flow to a new non-profit organization managed by Harvard and MIT that will focus on “inclusive learning and education.” The new entity will operate as a public interest entity.
“Under the guidance of Harvard and MIT’s efforts and insights on learning dynamics, non-profit organizations will cooperate with educational institutions, governments and other organizations to develop and evaluate new learning and teaching methods; invest in the best learning model The new learning model for China. Online and face-to-face; promote the adoption of best practices throughout the education continuum; support innovation in lifelong learning; and promote the next generation of learning experience platforms, including Open edX. This work will seek to improve education Achieve and reduce the impact of the expansion of educational inequality on historically underserved communities, and prepare all learners for success.”
In turn, 2U will use 39 million learners who have taken courses from edX to provide a ready flow of potential students for degree courses, startup campuses, and short courses offered by 2U’s university partners.
2U and Coursera, a large-scale for-profit large-scale open online course provider that was established roughly at the same time as the non-profit edX, have been in the process of increasingly fierce competition in recent years, and the cooperation between 2U and edX has put them in a more direct competition.
“2U and edX are built on a common vision that online education has the ability to expand access, create opportunities and change lives,” 2U co-founder and CEO Christopher (Chip) Paucek said in a press release. “By combining the global reach of 2U and edX and products ranging from free to degree, we believe that we can fully realize our shared vision, meet the growing global demand for online education, and bring growth to shareholders and other stakeholders And long-term value.”
This is a story of development.