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Two-part transaction would turn edX into a public benefit company while generously funding a nonprofit dedicated to strengthening the impact of digital learning.
MIT News Office
Publication Date:June 29, 2021
https://news.mit.edu/2021/mit-harvard-transfer-edx-2u-0629
MIT and Harvard University have announced a major transition for edX, the nonprofit organization they launched in 2012 to provide an open online platform for university courses: edX’s assets are to be acquired by the publicly-traded education technology company 2U, and reorganized as a public benefit company under the 2U umbrella.
The transaction is structured to ensure that edX continues in its founding mission, and features a wide array of protections for edX learners, partners, and faculty who contribute courses.
In exchange, 2U will transfer $800 million to a nonprofit organization, also led by MIT and Harvard, to explore the next generation of online education. Backed by these substantial resources, the nonprofit will focus on overcoming persistent inequities in online learning, in part through exploring how to apply artificial intelligence to enable personalized learning that responds and adapts to the style and needs of the individual learner.
The nonprofit venture will be overseen by a board appointed by MIT and Harvard, and its future work will draw on ideas from current edX partners, as well as MIT and Harvard faculty.
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MIT News Office
Publication Date:June 29, 2021
https://news.mit.edu/2021/mit-harvard-transfer-edx-2u-0629
MIT and Harvard University have announced a major transition for edX, the nonprofit organization they launched in 2012 to provide an open online platform for university courses: edX’s assets are to be acquired by the publicly-traded education technology company 2U, and reorganized as a public benefit company under the 2U umbrella.
The transaction is structured to ensure that edX continues in its founding mission, and features a wide array of protections for edX learners, partners, and faculty who contribute courses.
In exchange, 2U will transfer $800 million to a nonprofit organization, also led by MIT and Harvard, to explore the next generation of online education. Backed by these substantial resources, the nonprofit will focus on overcoming persistent inequities in online learning, in part through exploring how to apply artificial intelligence to enable personalized learning that responds and adapts to the style and needs of the individual learner.
The nonprofit venture will be overseen by a board appointed by MIT and Harvard, and its future work will draw on ideas from current edX partners, as well as MIT and Harvard faculty.
( continued below cut )
