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QuickWire: Online-Education Platform 2U Inc. Plans to Go Public

2U Inc., an online-education platform that counts the University of California at Berkeley and the University of Southern California among its clients, filed plans on Friday for an initial public offering of up to $100-million in common stock.

The company did not disclose the stock’s IPO price. The money will be used to expand student enrollment and to fund technology and content development, the company said.

2U develops and services cloud-based education software used by colleges to deliver courses, and sometimes entire degrees, online.

In the filing, the company reported a net loss of $28-million in 2013 and revenue of $83.1-million, up from $55.9-million in 2012. Enrollment in its clients’ 2U courses increased significantly in 2013, the company said.

The stock will trade on the Nasdaq under the ticker symbol “TWOU.”

Updated (2/23/2014, 7:30 p.m.) to omit confusing course-enrollment numbers provided by the company.

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