In May 2018, employees from education technology company 2U paraded through the streets of New
Orleans, beads and booze abundant on their floats during a Mardi Gras-style procession.
They had plenty to celebrate. 2U, which partners with universities to bring degree programs and other classes online, had a market value topping $5 billion and held lucrative contracts with schools including Georgetown University and the University of Southern California.
Six years later, the company is valued at roughly $30 million and facing an existential crisis. Its balance sheet is crippled by $900 million in debt, and some university leaders are looking for the exits. . . .
The article:
https://www.wsj.com/us-news/education/education-technology-2u-debt-e7218eeb
