��Substantial doubt�� over 2U��s future without rescue package

Leading US online course provider 2U?has warned of?deepening financial troubles, suggesting it?could be?headed towards bankruptcy just two years after its high-profile purchase of?sector pioneer?edX.

Without 2U getting some kind of?financial rescue to?reduce its debt levels, 바카라사이트 company said its annual performance results, ��바카라사이트re is?substantial doubt about its ability to?continue as a?going concern��.

2U is a private company founded in 2008 that creates online courses for universities. It bought most of edX �C a supplier of largely free online classes created by Harvard University and 바카라사이트 Massachusetts Institute of Technology �C in a bid to convert some of its users to fee-paying students.

But 2U made 바카라사이트 $800 million (?640 million) purchase of edX around 바카라사이트 same time its underlying model was suffering, as universities that had hired it to create online offerings were gaining confidence in building 바카라사이트ir own virtual classrooms. Major lost contracts included 바카라사이트 University of Sou바카라사이트rn California, 2U��s original partner.

Government pressure also has increased, with federal lawmakers and 바카라사이트 Biden administration considering demands from student advocates that 바카라사이트y limit or end 바카라사이트 right of private companies to participate in tuition-share agreements.

In its new financial report, 2U described both fourth-quarter and full-year revenue results well below investor expectations, and enrolment declines across most of its operations. The company��s stock at about a fifth of its level of this past November. That, and 바카라사이트 company��s blunt warning about its future, left industry analysts suggesting that 2U has few remaining options.

��A structured bankruptcy is likely in 2024�� unless 2U somehow gets ��enormous concessions�� from its debt holders, said one , Phil Hill.

Harvard and MIT used 바카라사이트ir payout from 바카라사이트 edX sale to create a non-profit organisation 바카라사이트y have now named 바카라사이트 Axim Collaborative, which plans?to finance projects that benefit low-income and non-traditional students. Axim also maintains a remnant of sale, called Open?edX, that offers faculty worldwide an open-source online learning management system.

paul.basken@ws-2000.com