Credit: Shutterstock photo2U, a cloud-based SaaS company that enables universities to deliver education content online, announced terms for its IPO on Monday. The Landover, MD-based company plans to raise $110 million by offering 9.2 million shares (13% insider) at a price range of $11 to $13. At the midpoint of the proposed range, 2U would command a fully diluted market value of $533 million.
2U, which was founded in 2008 and booked $83 million in sales for the fiscal year ended December 31, 2013, plans to list on the NASDAQ under the symbol TWOU. 2U initially filed confidentially on December 11, 2013. Goldman Sachs and Credit Suisse are the joint bookrunners on the deal.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
