Growth through acquisition (2017-2021)
Starting in 2017, 2U diversified its strategy and acquired education companies GetSmarter, and later Trilogy Education, firms offering short-term non-credit training programs.[14] In 2017, Paucek earned an MBA online from the University of North Carolina at Chapel Hill, through the school's partnership with 2U.[15] In late 2017, former Obama administration official Valerie Jarrett joined 2U's board.[16]
In 2018, 2U launched the Harvard Business Analytics Program in conjunction with Harvard University. Students in this program had an average of 17.5 years of work experience, were an average of 42 years old, and paid $50,000 in tuition.[17]
In early 2019, 2U announced that it had entered a partnership with EGADE Business School at Tecnológico de Monterrey in Mexico to offer an online MBA program. 2U also partnered with Tecnológico de Monterrey and the Washington University School of Law to offer an online master of laws program.[18][19] On August 6, 2U announced its first undergraduate program, offering a degree in data science and business analytics, as well as six other degrees, from the University of London (UoL), with its member institution London School of Economics (LSE).[20] UoL, LSE and 2U planned to keep the cost of the three-year degree at $26,000, far lower than most of 2U's other programs.[14] In September, 2U created a "Framework for Transparency", with a commitment to publishing transparent data on topics including university oversight and accountability, access, quality and outcomes.[21]
In 2020, Senators Elizabeth Warren and Sherrod Brown called for 2U and four other online program managers to disclose the terms of their contracts with colleges and universities to determine whether they were compliant with consumer protection laws. [22] In June, 2U announced that it would offer $3 million in scholarships in increments of $2,500 to underrepresented demographics, and the recipients would have to demonstrate both need and merit. The scholarships could be applied to about 100 different programs with a strong emphasis on technical training.[23] Later that year, 2U announced a partnership with Netflix and Norfolk State University to offer free online tech bootcamps to current students and alumni. In November, 2U published its first transparency report, which showed it had invested $1.3B in its non-profit partners' degree programs, and 72% of students graduate from those programs. [24]
2U strongly benefited from the shift to online learning brought on by the response to COVID-19, with a large growth in gross revenue in 2020. The company also reduced its debt. 2U was servicing more than 275,000 students as of late 2020.[25] 2U said that the pandemic also increased interest in its revenue-sharing pricing model from new and existing clients. Also in 2020, the London School of Economics agreed to expand its scope business with 2U to include two additional undergraduate degrees in mathematics and finance.[14] In September, 2U and Columbia University's engineering school announced an expansion of their work together, where 2U would help launch the Columbia Artificial Intelligence Program, an online program targeted at working executives.[26]
Before the start of the 2020–2021 academic year, Boston, Massachusetts-based Simmons University announced that it would be delivering hundreds of courses online in order to cope with the COVID-19 crisis. The expanded agreement with Simmons also provided for the creation of additional degree programs aimed at non-traditional students, with lower tuition than in-person programs. Simmons received services from 2U on a revenue-share basis.[27]
In June 2021, 2U announced a strategic agreement with education assistance benefits manager Guild Education.[28] The same year, 2U purchased massive open online course (MOOC) provider edX for $800 million cash.[29] Also in June, Netflix and 2U announced an expansion of their boot camps for Talladega College, St. Edward's University, Marymount University, and Edward Waters College.[30]
Downsizing and reorganization (2021-present)
In October 2021, Valerie Jarrett resigned from the 2U board. [31] In November 2021, an article in The Wall Street Journal alleged that 2U often used aggressive means to recruit students for the University of Southern California’s master’s in social work and that "USC social-work graduates who took out federal loans borrowed a median $112,000. Half of them were earning $52,000 or less annually two years later."[32]
In 2022, the company was criticized for its online program manager contracts in which it licenses its courses, through a revenue-sharing agreement, to participating colleges and for its student recruitment practices.[33][34]
On May 16, 2022, Bloomberg reported that Indian education tech company Byju's was in talks to acquire 2U, along with fellow American education technology company
