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The Day - Tech company 2U will pay $800 million to buy edX, online education platform MIT and Harvard created

Published June 29. 2021 6:23PM  Nick Anderson, The Washington Post Get the weekly rundown Email Submit Nine years ago, the Massachusetts Institute of Technology and Harvard University teamed up to create a nonprofit platform called edX to deliver a curated selection of online courses from prominent universities, available free to the world. It was a major player in a movement that promised to be a game changer for higher education. Now in a deal announced Tuesday, the education technology company 2U Inc. is purchasing edX and its assets for $800 million in cash. The proceeds will fund a nonprofit venture by MIT and Harvard to explore new initiatives in online education.

2U to Acquire edX, Pledges to Continue the edX Mission -- Campus Technology

06/29/21 Online education company 2U has announced it will acquire edX, the online learning platform founded by Harvard and MIT, for $800 million. Together, the organizations will boast a reach of more than 50 million learners around the globe, 230-plus partners and more than 3,500 digital programs. A key part of the deal is 2U s commitment to advancing edX s mission to expand access and affordability to high-quality education for all learners, according to a news announcement. 2U plans to operate edX as a public benefit entity, a designation for for-profit organizations that focus on achieving particular public-benefit goals and balancing those priorities with serving shareholder interests. This will allow edX s long-standing commitment to the public good to be embedded in its new charter, an MIT frequently asked questions document explained. In this new incarnation, edX will operate under a set of guidelines that will preserve its mission.

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