Probably the biggest news in higher education this week is that 2U (formerly 2tor) has filed for a 100 million dollar public offering with the SEC. The company has used Moodle as part of its custom learning management system to deliver synchronous online courses to students at top tier universities around the country (check out it’s partner list: http://2u.com/partners/). The IPO comes after nearly 100 million dollars has been raised in Venture funding and will fuel it’s growth to more partners and more students.
There are some interesting blog posts at E-Literate already available which dive into the documentation filed, specifically highlighting the current student body size, number of course enrollments per year and revenue per student. Read both articles here (1st post) and here (4 important numbers).
In my opinion it’s just helping to write the story of how Moodle, an open source software, is reshaping the educational landscape at all levels, perhaps especially higher education.
From the Reuters article (http://www.reuters.com/article/2014/02/21/us-2u-ipo-idUSBREA1K23O20140221):
The company, whose investor include Redpoint Ventures and Highland Capital Partners among others, said it intends to list its common stock on the Nasdaq under the symbol “TWOU”. The filing did not reveal how many shares 2U planned to sell or their expected price. The company said it plans to use the proceeds from the IPO for marketing, investment in technology and for ongoing services and support programs. The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.
Read past 2U (2tor) coverage here: http://lmspulse.com/?s=2tor