edX | July 01, 2021
2U, Inc., a global leader in education technology, and edX, a leading online learning platform, and education marketplace, announced today that they have entered into a definitive agreement to form an industry-redefining partnership that will help power the digital transformation of higher education to expand access and affordability, and usher in a new era of online learning.
2U will pay $800 million in cash to buy almost all of edX's assets. 2U and edX plan to reach over 50 million learners worldwide, serve over 230 partners, and provide over 3,500 digital programs on the world's most comprehensive free-to-degree online education marketplace.
Proceeds from the transaction will go to a nonprofit dedicated to reimagining the future of learning for people of all ages, addressing educational inequalities, and advancing next-generation learning experiences and platforms under the leadership of Harvard and MIT. In addition, this group will create methods and collaborations to help narrow the learning gap, drawing on insights acquired at Harvard, MIT, and other universities.
The acquisition will combine the distinct strengths and complementary skills of two leading players in online education. 2U is the preferred digital transformation partner for more than 80 of the world's leading universities, and the company expects to reach $1 billion in annual revenue by the end of 2021, while edX has built one of the world's strongest online education brands and largest global communities of learners. Over the last decade, 2U and edX have established mission-driven organizations based on the idea that online education and greater access to the world's finest nonprofit universities can transform lives and affect future generations. The combined scale, reach, capabilities, marketing efficiency, and relationships of 2U and edX will open up new possibilities to reach and serve more learners, universities, and businesses across the globe.
To maintain and promote the edX purpose, 2U intends to run edX as a public benefit entity, a kind of purpose-driven organization that balances the interests of shareholders with those of other stakeholders. 2U has committed to continuing to fulfill the edX mission by, among other things, ensuring affordability through the continuation of a free track to audit courses; protecting the intellectual property rights of faculty and universities that contribute massive open online courses, and ensuring that participating colleges and universities can continue to participate under their existing agreements with edX.
About 2U, Inc.
Removing the back row in higher education is more than a metaphor for our goal. 2U, Inc. is a global leader in education technology and has been a valued partner and brand steward of great universities for more than a decade. More than 500 educational programs, including undergraduate and graduate degrees, professional certifications, boot camps, and GetSmarter short courses, are designed, delivered, and supported by us. 2U, in collaboration with our partners, has positively impacted the lives of over 300,000 students and lifelong learners. Visit 2U.com for additional information. #NoBackRow
edX is the education movement for students. We've brought together over 39 million students, the majority of the world's top-ranked universities, and industry-leading companies on one online learning platform that supports learners at every level, in collaboration with our founding partners Harvard and MIT. And we're not stopping there; we're constantly pursuing our goal of a world where every learner has access to education to live a fulfilling life, regardless of cost or location.
CORPORATE EDUCATION AND TRAINING
Codecademy | October 22, 2021
Codecademy, the leading online learning platform for technical skills, today announced the launch of Teams+, its newest B2B offering that helps organizations optimize their technical training programs for better onboarding, upskilling, and retention of talent. Utilizing Codecademy's library of technical content and interactive learning features, Teams+ allows companies to customize and curate Codecademy curriculum to meet the specific needs of their employees, resulting in a robust, tailored training experience.
The release of Teams+ comes at a time when employee turnover is at a record high, with technical training offering a potential solution. According to a recent survey of over 100 tech leaders, Codecademy found that:
67% of respondents reported a decrease in retention in the past year
79% of respondents report that the decrease in retention is hurting team morale
Of the 73% of organizations developing plans to combat turnover, 59% are incorporating technical training into their retention strategies
"Employees are retained when they are properly onboarded, given the opportunities to learn and grow from within, and eventually promoted -- all of which can be accomplished through technical training. Organizations need to invest in training programs that address the entire employee lifecycle, otherwise they will fall behind when it comes to attracting and retaining talent, as well as keeping their teams' skills up to date."
Jonathan Naymark, General Manager of Codecademy for Business
Teams+ empowers organizations to develop a custom technical training program that meets the multifaceted needs of their employees, no matter where they are in their careers. Leveraging Codecademy's interactive learning platform and extensive catalog of technical courses, Teams+ introduces a suite of new features including:
Customizable curriculum. Organizations can build their own custom curriculum by picking and choosing from Codecademy's ready-to-use courses and skill paths, as well as developing their own quizzes, articles, and assessments, to reflect what's most relevant to their teams.
Management of multiple training programs. Managers can group learners by team, department, level, or subject area, and assign course content that meets their specific learning goals. Team members can also collaborate on coding projects in real-time via private, shareable workspaces.
Ability to track ROI on training. Organizations gain full visibility into how individuals and groups are progressing and performing with their assigned content, helping them keep track of how well they are hitting their training goals.
Teams+ signifies the growth of Codecademy's B2B footprint since Codecademy for Business launched in 2019. Codecademy for Business has doubled its revenue in 2021, and has been used by over 850 customers including IBM, The Guardian, Tucows, The Motley Fool, Paradox, Mixpanel, and the Institute of Health Metrics and Evaluation.
"Codecademy has helped us move away from reinventing the wheel. We've built custom curriculum around their existing modules for onboarding and upskilling and have even recently opened it up to more employees as a professional development opportunity," said Sean Lassiter, Senior Learning Manager at the Institute of Health Metrics and Evaluation.
Codecademy is the leading online learning platform for technical skills, empowering over 50 million people worldwide to lead inspiring careers in technology. Codecademy's innovative, scalable approach to coding education makes it possible for anyone to master the skills needed to succeed in today's tech-powered society. In addition to helping individuals, Codecademy for Business supports companies like IBM, Dailymotion, and Reverb as they train and upskill their teams for the future. Codecademy has also worked with The White House and government partners in the UK, Brazil, and Argentina to make technology education accessible for all. Headquartered in New York City, Codecademy has raised $82.5M from investors including Owl Ventures, Prosus, Union Square Ventures, Kleiner Perkins, Index Ventures, and Y Combinator.
prnewswire | October 14, 2020
To address the multiple challenges businesses face with training and skills development, Go1 and LMS365 have partnered to offer access from the LMS365 platform to the Go1 Content Hub. Through this partnership, announced today by LMS365, organizations across industries can now offer best-in-class training content to all their employees through Microsoft Teams and SharePoint Online.Keeping training content up to date and relevant for changing needs can be time-consuming and costly. Add to this the burden of sourcing and procuring content from multiple providers on an ongoing basis. Finally, when it comes to delivering and tracking learning, organizations are challenged to provide seamless, engaging learning experiences for employees.