2U Completes Restructuring to Enhance Global Education Access

Author: Caleb Price Updated: 09-13-2024 07:39 PM

2U Completes Financial Restructuring

2U has successfully completed its financial restructuring and emerged from Chapter 11, establishing itself as a privately held entity. This strategic move has strengthened the company’s balance sheet, enabling it to better support leading universities in delivering high-impact and career-focused education. With continued operations and the backing of a dedicated new ownership group, 2U is uniquely positioned for growth.

Commitment to Innovation and Accessibility

Paul Lalljie, Chief Executive Officer of 2U, expressed confidence in the company’s future, stating, "At the outset of this process, we committed to emerge as a stronger company, and that is exactly what we have done." Lalljie highlighted that the restructuring allows 2U to invest further in its services and offerings, ensuring the continued delivery of unparalleled online learning experiences tailored to today's learners and workforce demands.

New Era of Transformation

As the landscape of education continuously evolves, 2U is set to enter a new phase of innovation while remaining dedicated to providing exceptional learning outcomes. The company collaborates with leading universities globally to attract talent and skill development, which is essential for preparing a skilled workforce for the future.

Leadership Changes and Strategic Direction

Following the restructuring process, 2U will be governed by a new Board, led by Brian Napack as Executive Chairman. Highly regarded in the education sector, Napack has previously served as CEO of a prominent education firm and brings extensive experience to his new role. He believes that education must evolve, and with renewed focus, 2U is set to drive change and provide value to learners.

Supporting University Partners

For over 15 years, 2U has been at the forefront of transforming the educational landscape. The company prides itself on building partnerships with over 260 leading universities, facilitating scalable and affordable access to quality education. By focusing on career-enhancing education, 2U aims to create brighter futures for learners worldwide.

Industry Collaboration and Advisory Support

2U's financial restructuring saw the support of several advisors, including Latham & Watkins LLP and Moelis & Company, among others. These experts provided legal, financial, and strategic guidance to ensure the smooth facilitation of the restructuring process.

About 2U and its Vision

2U stands as a beacon in the realm of online education, guided by its founding mission to dismantle barriers in higher education. Through the edX platform, 2U connects millions of individuals with thousands of career-relevant learning opportunities. The organization continues to innovate and expand its offerings, aiming to empower learners around the globe with high-quality education.

Frequently Asked Questions

What does 2U's restructuring mean for its future?

The restructuring positions 2U to grow and enhance its educational offerings, paving the way for increased investment in technology and services.

How long has 2U been in the education sector?

2U has been a leader in online education for over 15 years, partnering with top universities to deliver accessible learning.

Who is leading 2U now after the restructuring?

Brian Napack is the new Executive Chairman overseeing the board following the financial restructuring.

What kind of education does 2U provide?

2U offers a variety of educational programs, including free courses and full degrees that are career-relevant and designed to elevate learners' careers.

How does 2U support its university partners?

2U collaborates with universities to innovate pedagogic approaches and enhance access to high-quality education, benefiting both institutions and students.

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