When Harvard and MIT In May 2012, it announced a partnership to offer free public online courses, and Stanford’s computer scientists have opted for a semi-profit model to avoid the for-profit enterprises – Udacity and Coursera. Now, edX has a solution for those very market forces. The co-founders announced on June 29 that they had agreed to sell 2U for $ 800 million in cash to the manager of a for-profit online course. harvardmag.com/edx-sale-21).
As a course collector, edX has succeeded. Provenist Allan M. Garber, co-chair of the board, said Harvard newspaper That edX offers more than 2,800 courses from 194 partner educational institutions, and is used by 39 million people worldwide. The epidemic accelerated growth: By the year 2020, edX reported, the total number of course registrations had increased by 29 million, to 110 million (an average of about 35 million users each). But the conditions under which ADX was established have changed according to the economy, and some of the most important children’s goals have not been achieved. The sale, Harvard and MIT leaders hope, can help fix the latter: the revenue will be invested in a non-profit organization that maintains the edX software platform and fulfills some of its initial partnership goals.
• Financial logic. In a pending transaction, according to MIT statements, MIT and Harvard each invested $ 40 million in edX, each of which founding partners less than $ 15 million in extended loan lines. (The $ 40 million investments cannot be repaid at Harvard and MIT — they are non-profit start-up capital – but the loans will be repaid from sales. Student fees, hosting in-house training programs for businesses and other sources – but reported a total loss of $ 17.4 million. (2021 results not yet known.)
Course technology is changing rapidly, requires significant investment, and is costly for future users. EdX’s personal competitors play all in a different league. After several rounds of corporate funding, Coxera, a company similar to EDX, raised more than half a billion dollars in its first public offering in March, and reported more than XXXXXX in the first quarter. Annual Total. 2U, which manages the university’s online degree programs, expects $ 1 billion in revenue this year — and has had no problem borrowing $ 475 million to help pay for the purchase. In his view, millions of edX users have nominated candidates for 2U master’s degree programs (students generate 2U revenue and pay full institutional fees). If even a small fraction of 2U is registered, in one investor’s statement, the company can reduce its market capitalization by 10 to 15 percent – tens of millions of dollars a year. He expects purchases that could close this fall to increase revenue in fiscal year 2023. “Now is the time to stop trying,” MIT President El Rafael Reef told the community in a statement. The most crowded business course-sum forums. ”
• Continuing edX operations. Buying a business for a nonprofit can be complicated. With the approval of the government, 2U is buying the ADX brand, website and marketing system in the form of a “public utility company” that is in line with its financial objectives. Among the conditions agreed upon were “continued free track to audit courses”; Protection of intellectual property of institutions and professors in edX courses, edX-partner agreements; Protecting the privacy of users’ information: And will continue to develop open-source open edX software platform. These provisions must be observed for five years. Teachers who want to do this will allow members to take their edX courses in the current form – at least to a certain extent, knowing that they will be able to reach students in line with EDX’s initial mission.
Harvard and MIT, for their part, are organizing a new non-profit organization that will receive $ 800 million from the sale (because EDX is not for-profit, both institutions cannot hold the money as part of its ordinary assets), and will maintain Open edX ownership. A few details about the nonprofit organization or practices seem to have been made, and some are still being made public. It will have a joint board of directors, each consisting of four representatives from Harvard and ATI – for now, the same people who serve on the EDX board.
• A fresh start to accomplish the edX mission. Based on Harvard and MIT’s statements about the sale, Harvard and MIT expect to highlight the priorities as the new nonprofit takes shape and determines its strategy and operations.
MIT created the first software to build online courses, the backbone of the XXX platform. MIT, in a statement on its successor, emphasizes continued technology development: “Nonprofit ADX aims to do what it cannot: invest in the amount needed to maintain open edX as a new, important, open source learning platform in the world, and online Solve the next great research challenge in education. For example, it can invest in artificial intelligence to make online education more responsive and personalized. MIT professors keep their edX courses, or move or create new ones on MITx Online, which is growing and its brand (based on open edX) is focused on future big online courses and on-campus education.
With Harvard disseminating its own systems (Harvard Business School Online), courses on canvas learning-management systems, and even 2U-based offerings), the university became anonymous. It will keep teachers interested in deploying XX Fort’s large, open online courses – but more importantly on campus use, other platforms and other course formats.
For millions of course registrations, there have been suspicious claims from educators about changing edX education. Reached an audience around the world (international students make up about 80 percent of the enrollment) – this means that the impact on the home may be small. Instead of reaching out to those who do not have access to higher education (essential first goal), most users already have a college degree. Faculty members who have taught HarvardX courses have incorporated what they have learned into their on-campus pedagogy — but the greatest achievement of technology in learning and learning at Harvard was the forced migration to Zom during the epidemic.
It is interesting to note that Harvard emphasized social goals in describing the transaction. Garber spoke about tackling inequality in education: “Through research and collaboration with universities and community colleges and other educational institutions that work directly with students, many of them may be at risk. Barat Andand, an assistant professor of educational development (as well as an ADX director and HarvardX leader), set out his goals in this way:[M]Focus on less-than-rich and historically disadvantaged communities to increase the impact of online learning experiences for students everywhere, partner with various organizations to help prepare for the future. And develop next-generation learning experience platforms. ”
That may refer to the method of assistance. Approximately, if Harvard owns an estimated $ 400 million in net worth, it generates $ 20 million annually to test high school and community-college programs, labor-development initiatives, and technology improvements. Those MIT AI improvements) make online learning more effective for those who are unable to use online learning or who are more likely to use such courses today.
That would be a whole new way of thinking about what HarvardX means. Unexpectedly, today’s courses offered at a prestigious university (online-learning.harvard.edu, filtering for Harvard X) are clearly aimed at highly skilled users — and often reflect ‘Professors’ Interests, rather than the needs of the basic students who want to become marketable. Focusing on social missions means pursuing postgraduate careers, business school future project management and more – and engaging more deeply with their partners and others.
Announcing the sale, President Lawrence S. Bako and MIT’s Reif said: Closing the vast learning gap. As a single entity, edX has confirmed many of the technological concepts adopted by Baco’s predecessor, Dr. Gilpin Faus, when he started the nonprofit organization nine years ago. During his time between the Tufts and the Harvard presidents, Bako devoted a great deal of energy to studying the capabilities and limitations of such technologies. He is now in a good position to meet the needs of a large community in order to increase the civic role and leadership status of the rich. How the new non-profit organization will take root, and if it succeeds, it may still be more exciting and important in the history of ADX.