October 1, 2022

Harvard, MIT Part of $800 Million Deal to Push Access to Online Education

Education-technology company 2U Inc., which runs graduate programs for dozens of top universities, is buying web-based course provider edX, a nonprofit founded by Harvard University and the Massachusetts Institute of Technology, for $800 million.

The deal combines two major players in online instruction as universities around the world push more aggressively into digital offerings. Many schools scrambled to shift courses online when the pandemic shut campuses last year, and they are now expected to build on—and polish—the programs.

The sale proceeds will go to a nonprofit, to be run by Harvard and MIT, that the schools say will focus on reducing inequalities in access to education. It will maintain the open-access course platform built by edX, research online and hybrid-learning models, and work to minimize the digital divide that still serves as a barrier for many younger students and adults, the schools said.

“This is early innings in the digital transformation of education,” said 2U CEO Chip Paucek, adding that he anticipates a time when “online education is normalized as, simply, education.”

EdX was founded by Harvard and MIT in 2012, its aim to democratize elite education with free classes, taught by top professors, available to students globally. Over time, it added completion certificates, available for a fee, and course sequences that, when stacked together, could lead to credentials and ultimately a degree. It also began providing corporate training in subjects including entrepreneurship and cybersecurity.

Related Posts

Ford to Idle or Curb Output at More Plants Because of Chip Shortage

June 30, 2021

June 30, 2021

Ford Motor Co. said the computer-chip shortage will force it to cut output across more than a half-dozen U.S. factories...

The Biggest Summer Travel Headaches and How to Avoid Them

May 26, 2021

May 26, 2021

Along with sunscreen and masks, you’re going to need to pack patience when you head out on your summer vacation....

In Apple Antitrust Trial, Judge Signals Interest in Railroad, Credit-Card Monopoly Cases

May 25, 2021

May 25, 2021

The future of digital commerce on your iPhone could be influenced by how courts resolved questions about market control following...

Boom Says Its Supersonic Jet Will Be Green Too. Not Everybody’s Convinced.

June 30, 2021

June 30, 2021

Boom Technology Inc. is trying to revive supersonic travel, but the most ambitious part of its plan might be to...

Airlines Gird for Thanksgiving Travel Test After Rocky Year

November 20, 2021

November 20, 2021

Thanksgiving will test whether airlines have done enough to insulate their operations from shocks that have roiled air travel in...

New Face-Mask Rules Put Grocery Workers Back at Center of Debate

May 22, 2021

May 22, 2021

Supermarket workers are back in the middle of a national conversation about face masks. Many supermarket chains have eased rules...

U.S. Home-Price Growth Rose to Record in April

June 29, 2021

June 29, 2021

Home-price growth climbed to a record high in April, as buyers competed for a limited number of homes for sale....

FDA, J&J Near Deal for Covid-19 Vaccine Production at Baltimore Plant

May 28, 2021

May 28, 2021

WASHINGTON—The Food and Drug Administration and vaccine maker Johnson & Johnson JNJ -0.15% expect to announce as early as next...

Black Market Undercuts Green Targets for Air Conditioners, Refrigerators in Europe

June 4, 2021

June 4, 2021

BRUSSELS—U.S. corporate giants are being hit so hard by a European smuggling wave that even the White House has weighed...

AMC Boss Adam Aron Basks in Meme-Stock Spotlight

June 4, 2021

June 4, 2021

Adam Aron, AMC Entertainment Holdings Inc.’s AMC -6.68% chief executive, has decided to run with the meme-stock bulls who helped...

Apple’s Big Show May Not Be Enough

June 4, 2021

June 4, 2021

As Apple Inc. AAPL 1.81% looks to rally its base, the fate of the company’s lucrative ecosystem has never been...

Novavax Covid-19 Vaccine Is 90% Effective in Key Study

June 14, 2021

June 14, 2021

An experimental Covid-19 vaccine from Novavax Inc. was 90.4% effective at preventing symptomatic disease in adults in a large clinical...

Lordstown Motors Warning Highlights Cash Needs of EV Startups

June 9, 2021

June 9, 2021

The two-year-old firm, which is converting a former General Motors Co. factory to build electric pickup trucks, ended the first...

UAW Board Elects Fourth President in Three Years

June 28, 2021

June 28, 2021

The United Auto Workers’ board elected a new president Monday, as the union looks to overcome a corruption scandal and...

Inflation in Rich Countries Hit a 12-Year High in April

June 2, 2021

June 2, 2021

Consumer prices across the rich world rose at the fastest pace in more than 12 years during April, as central...