2U is an education technology company that builds, operates, and supports online degree, certificate, boot-camp, and open-course programs for universities, nonprofit institutions, companies, and individual learners.
Last updated October 14, 2026
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Overview
2U is a United States education technology company focused on the delivery of online higher education and professional learning. Founded in 2008 by John Katzman, the company was originally called 2tor and was established around the idea that universities could expand into online education without building all of the necessary technology, course-production, marketing, enrollment, and student-support capabilities themselves. 2U generally works with nonprofit colleges and universities, which retain academic authority and award the credentials, while 2U supplies much of the digital infrastructure and operating support. The company’s early business was built around long-term online program management agreements. Its first major academic relationship was with the University of Southern California, initially supporting an online teaching degree and later an online social-work degree. Additional partnerships followed with Georgetown University, the University of North Carolina at Chapel Hill, Syracuse University, Northwestern University, the University of California, Berkeley, Yale University, and other institutions. Under its traditional model, students paid tuition set by the partner institution and 2U was compensated through revenue-sharing arrangements. These contracts often involved substantial upfront investment in course development and student acquisition, with the expectation that the relationship would produce revenue over many years. 2U expanded beyond graduate degrees into non-degree education. Its acquisitions of GetSmarter in 2017 and Trilogy Education in 2019 broadened the company’s presence in short courses, executive education, coding boot camps, and other career-oriented programs. GetSmarter brought a short-course operation founded in South Africa and partnerships with universities and industry experts. Trilogy added technology boot camps delivered in cooperation with universities. The company also developed undergraduate and postgraduate offerings in areas such as data science, business analytics, artificial intelligence, law, health, and management. In 2021, 2U acquired edX, the open online learning platform founded by Harvard University and the Massachusetts Institute of Technology, for $800 million in cash. The transaction transformed 2U from primarily an online program manager into a broader education platform serving both institutions and individual learners. edX offered massive open online courses, professional certificates, MicroMasters, MicroBachelors, and degree-related programs. It became 2U’s principal consumer-facing brand and an important channel for career education. The rapid shift toward remote learning during the COVID-19 pandemic increased demand for online education and temporarily supported 2U’s growth. At the same time, the company faced criticism over the cost of revenue-sharing arrangements, student-recruitment practices, graduate outcomes, and the transparency of relationships between online program managers and universities. Competition intensified, demand normalized after the pandemic, and the financial burden of long-term program commitments and the edX acquisition became more significant. 2U undertook layoffs and organizational changes in 2022 and 2023. Its relationship with USC was materially reduced in 2023, including the ending of most programs and the social-work program. Chip Paucek left the chief executive role in November 2023, and Paul Lalljie subsequently served as CEO before stepping down in October 2024. 2U filed for Chapter 11 bankruptcy protection on July 25, 2024, using the process to eliminate more than $450 million of debt while continuing operations. It planned to emerge as a private company. Matt Norden served as interim CEO after Lalljie’s departure, and Kees Bol became CEO in January 2025. The company’s post-restructuring business remains centered on institutional online programs and edX, although ownership, capital structure, and operating details should be checked against the latest corporate disclosures.
History
2U began in 2008 when John Katzman founded the company under the name 2tor. Chip Paucek and Jeremy Johnson joined as co-founders. The business sought to help established universities create online degree programs by combining course production, learning technology, marketing, admissions support, and ongoing student services. In 2009, Katzman funded the company’s first online teaching degree with the University of Southern California. A further USC partnership in 2010 supported an online social-work degree. During 2011, 2U added partnerships with Georgetown University and the University of North Carolina at Chapel Hill, including an online MBA. The company raised a $32.5 million Series C round in March, bringing reported total funding to $65 million. Katzman became chairman and Paucek became CEO in 2012. The company’s revenue-sharing online program manager model required 2U to invest heavily in program creation and enrollment while partner universities retained academic control and awarded degrees. 2U went public on March 28, 2014, raising $119 million through a Nasdaq offering under the symbol TWOU. It subsequently expanded its university network, adding institutions such as Syracuse, Northwestern, and UC Berkeley. In 2015, Yale and 2U announced an online Master of Medical Science program, and the company reported approximately 12,300 students in partner programs. The company diversified through acquisitions beginning in 2017. GetSmarter, founded in Cape Town in 2008 by Sam and Robert Paddock and focused on university-linked short courses for professionals, became 2U’s first acquisition. The $103 million cash transaction closed in July 2017 and provided a rapid route into international short-course education. 2U later acquired Trilogy Education, which operated university-linked technology boot camps. These deals expanded its offer beyond conventional graduate degrees. 2U launched additional programs with Harvard, Tecnológico de Monterrey, the University of London, the London School of Economics, Columbia University, and others. It announced a transparency framework in 2019 and published a transparency report in 2020. That year it also announced scholarships, technology boot camps with Netflix and universities serving historically underrepresented communities, and expanded online activity as the pandemic accelerated remote learning. By late 2020, the company said it was serving more than 275,000 students. In 2021, 2U acquired edX for $800 million in cash. Founded by Harvard and MIT in 2012, edX had developed into a major open-course platform with professional certificates, MicroMasters, MicroBachelors, and degree-related offerings. The acquisition added a large direct-to-learner business to 2U’s institution-focused operations. The company also expanded access to its programs through Guild Education and continued boot-camp partnerships with Netflix. After the pandemic-driven surge in online learning, 2U encountered weaker demand, increased competition, criticism of revenue-sharing contracts, and scrutiny of recruitment and outcomes. In 2022, students sued 2U and USC over alleged use of misleading rankings; the case against 2U was dismissed. The company also faced public criticism over the cost and marketing of some programs. It reduced its workforce and reorganized operations in 2022 and 2023. In November 2023, USC and 2U ended most of their programs, including social work. Paucek left the CEO position that month, with CFO Paul Lalljie becoming CEO. 2U challenged U.S. Department of Education guidance on third-party servicers in 2023. Further executive changes followed in 2024. On July 25, 2024, the company filed for Chapter 11 protection, seeking to eliminate more than $450 million of debt and continue as a private company. Lalljie stepped down in October, Matt Norden served as interim CEO, and Kees Bol became CEO in January 2025. The company’s post-restructuring structure and operations should be verified through current filings and company disclosures.
- 2025
Kees Bol becomes CEO
[1]Kees Bol assumed the chief executive role after the company’s restructuring period.
- 2024
Chapter 11 restructuring
[1]2U filed for Chapter 11 protection and pursued a debt restructuring while continuing business operations.
- 2023
USC partnership contraction
[1]USC and 2U agreed to end most programs, including the social-work program.
- 2021
edX acquisition
[1]2U purchased edX for $800 million in cash, adding a major open online learning platform.
- 2019
Expansion into undergraduate education
[1]2U announced undergraduate degree offerings with the University of London and the London School of Economics.
- 2017
GetSmarter acquisition
[1]2U acquired GetSmarter, entering international short-course and professional education at greater scale.
- 2014
Nasdaq initial public offering
[1]2U raised $119 million in its initial public offering and began trading as TWOU.
- 2009
First online degree partnership
[1]2U supported the University of Southern California’s first online teaching degree program.
- 2008
Company founded as 2tor
[1]John Katzman founded the company, later renamed 2U, with Chip Paucek and Jeremy Johnson joining as co-founders.
Products and positioning
A technology-enabled partner for universities, nonprofit institutions, companies, and learners seeking online degrees, credentials, and career education.
Open online learning platform · 2012
edX
edX is 2U’s principal open and direct-to-learner education platform. Founded by Harvard and MIT in 2012, it offers massive open online courses, professional certificates, MicroMasters, MicroBachelors, and degree-related programs from universities and other organizations. Under 2U, edX complements institution-operated degree programs with a broader catalog aimed at learners seeking flexible study, career advancement, and stackable credentials.
Higher education services · 2009
Online Degree Programs
2U builds and operates online degree programs in partnership with universities. Its services can include course design and production, learning platforms, marketing, enrollment support, student advising, technology, and program operations. Partner institutions generally retain control over academic standards, faculty governance, admissions policy, and degree conferral, while 2U supports the digital delivery and commercial operation of the program.
Professional short courses · 2008
GetSmarter
GetSmarter is a professional education business founded in Cape Town that partners with universities and subject-matter experts to deliver online short courses. Its programs have addressed management, business, technology, health, and other areas for working professionals. 2U acquired GetSmarter in 2017, using the business to accelerate international expansion and broaden its portfolio beyond academic degrees.
Career and technology training
Trilogy Education Boot Camps
Trilogy Education provided university-linked, short-format boot camps focused largely on technology and employment-related skills. The model combined structured instruction, practical projects, and career support, allowing universities to offer non-degree technical training. 2U acquired Trilogy as part of its move into alternative credentials and workforce-oriented education.
Professional education · 2018
Harvard Business Analytics Program
The Harvard Business Analytics Program is an online professional program developed with Harvard University and supported by 2U. It targets experienced managers and executives seeking applied knowledge in data, analytics, and business decision-making. The offering illustrates 2U’s expansion into premium, non-degree and executive-oriented education delivered through university partnerships.
Controversies
2022
Alleged misleading use of university rankings
Students sued 2U and USC alleging that misleading U.S. News & World Report rankings were used to market programs. A federal judge dismissed the case against 2U, while related controversy continued in public discussion.
2021
Scrutiny of USC social-work recruitment and outcomes
Reporting criticized aggressive recruitment associated with USC’s online Master of Social Work program operated with 2U and examined the relationship between student borrowing and graduate earnings.
Marketing campaigns
- 2020Scholarship initiative
United States
2U announced $3 million in scholarships, distributed in $2,500 awards, for learners from underrepresented groups. Awards were intended to combine financial need and merit and could be used across roughly 100 programs, with an emphasis on technical training.
Outcome. The initiative was presented as an access and workforce-development measure; the available reference does not establish its long-term enrollment or completion impact.
- 2020Netflix technology boot-camp initiative
United States
2U partnered with Netflix and Norfolk State University to provide free online technology boot camps for students and alumni. The partnership was later expanded to additional institutions including Talladega College, St. Edward’s University, Marymount University, and Edward Waters College.
Outcome. The program expanded access to technology training for participating institutions; the reference does not provide quantified outcomes.
Brand decisions
2024
Chapter 11 debt restructuringOtherBackground
2U faced debt and operating pressures following expansion, acquisitions, and weaker post-pandemic education demand.
Action taken
The company filed for Chapter 11 bankruptcy protection on July 25, 2024.
Aftermath
The restructuring eliminated more than $450 million of debt and was intended to allow the business to continue as a private company.
Debt eliminated. More than 450 million USD (2024 Chapter 11 restructuring)
2023
End most USC programsStrategyBackground
The USC relationship had faced criticism and changing economics, including scrutiny of the online social-work program.
Action taken
USC and 2U mutually agreed to end most of their programs, including social work.
Aftermath
The announcement marked a major contraction of one of 2U’s earliest and most significant university relationships.
2022
Workforce reductionStrategyBackground
The company faced market pressure and sought to reduce its cost base after rapid expansion in online and alternative-credential education.
Action taken
2U announced layoffs affecting approximately 20 percent of its workforce.
Aftermath
The reduction formed part of broader organizational and operating changes during a period of financial pressure.
2021
Acquire edXM&ABackground
2U sought to combine its university-partnership infrastructure with edX’s large open-course and direct-to-learner audience.
Action taken
2U agreed to acquire edX for $800 million in cash.
Aftermath
The transaction substantially broadened 2U’s portfolio into open courses, professional certificates, and consumer-facing learning.
Acquisition consideration. 800 million USD (2021 announcement and transaction)
Recent events
2U completes acquisition of edX[3]
2U completed its acquisition of edX, which it retained as its online learning platform and primary brand for products and services.
Reported
2U and NUS Computing announce online education partnership[4]
2U announced a partnership with the National University of Singapore School of Computing to create a portfolio of online professional programs, including twelve short courses in development.
Reported
2U announces acquisition of edX[5]
Harvard, MIT, and edX announced an agreement under which edX will be converted to a public benefit entity fully owned and operated by 2U. Proceeds from the acquisition are to support a nonprofit led by Harvard and MIT.
Reported
Netflix announces HBCU boot camp partnership[6]
Netflix announced a partnership with Norfolk State University and education technology company 2U for a virtual HBCU boot camp. The program was planned to launch at Norfolk State University in January 2021.
Reported
2U appoints Paul S. Lalljie as CFO[7]
2U announced Paul S. Lalljie's appointment as chief financial officer, effective October 14, 2019. He succeeds Catherine A. Graham.
Reported
RIT and 2U partner to deliver an online architecture degree[8]
Rochester Institute of Technology (RIT) announced a partnership with 2U to deliver an online Master of Architecture degree. The program was anticipated to launch in September 2020, pending approvals.
Sources8 sources
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