2U, which offers select partner colleges and universities a cloud based SaaS platform, reported its fourth quarter and full year 2014 financial results last week.
For the fourth quarter 2014 revenue was up 34% to $30.8 million. For the full year, revenue was up 33% and reached $110.2 million. Co-founder and CEO Chip Paucek expects revenue increase of around 31% for 2015 and called 2014 a milestone year for the company.
2U made its stock market debut on March 30th 2014 and extended its contract with the University of North Carolina at Chapel Hill’s Kenan-Flagler Business School for an additional 10 years in February 2015. 2U now has a list of 18 partner universities that offer over 30 programs.
The company also managed to further cut its losses down to $14.2 million in 2014 from $21.2 million in 2013.
- 2U, Inc. Reports Fourth Quarter and Full Year 2014 Financial Results | Press Release