2U is an educational technology company that partners with leading nonprofit colleges and universities to offer online degree programs. The company supplies its partner universities with a cloud-based software-as-a-service platform coupled with a suite of technology-enabled services, including coursework design, infrastructural support and capital to deliver instruction to students. 2U was founded in 2008 by John Katzman and Jeremy Johnson; Paucek remains with the company as CEO.
In May 2012, Forbes named 2U as one of the “10 Start-Ups Changing the World.” In 2014, Inc. Magazine named 2U one of “10 Tech Companies Helping Humanity.”
The company went public on March 28, 2014, and raised $119 million by offering 9.2 million shares at $13 per share. 2U is traded on NASDAQ under the ticker symbol TWOU.
Prior to its IPO, the company was venture-backed and raised $96 million. Investors included Bessemer Venture Partners, Highland Capital Partners, Redpoint Ventures, Novak Biddle Venture Partners, City Light Capital, SVB Capital and WestRiver Capital.
|Services||Education Technology focusing on Postgraduate Education including Course Development, Admissions Services, Student and Faculty Support, Prospective Student Marketing|
|Key people||Chip Paucek (CEO), Susan Cates (COO), Catherine Graham (CFO), James Kenigsberg (CTO), Harsha Mokkarala (CMO)|
|Number of locations||Landover, New York, Los Angeles, Denver, Chapel Hill, Hong Kong|
|Headquarters||Landover, Maryland, USA|
|Number of employees||900 (July 2015)|
NPS is a customer loyalty metric that measures customers’ willingness to not only return for another purchase or service but also make a recommendation to their family, friends or colleagues.
It is a powerful and effective technique, which can greatly increase a company's revenue if used properly.
The main advantages of NPS are close correlation with a company's growth and easy collection, interpretation and communication of the data.
Yes, it is.
Net Promoter Score is a number from -100 from 100.
Scores higher than 0 are typically considered to be good and scores above 50 are considered to be excellent.
The industry average for Technology / Software is 58.
The final Net Promoter Score of a company strongly depends on a context in which the satisfaction is measured.
Consider an example: If 2U sends out NPS surveys immediately after purchase, they are tracking their customers' initial excitement and the checkout experience.
On the other hand, if they survey their customers a few weeks after the purchase they are also tracking how satisfied their customers are with their products and services over time.
Therefore, comparing the NPS score of 2U with your own without any further context is not that useful.
What is extremely useful though, is using the NPS methodology to track the satisfaction of your customers over time. That's where Customer.guru comes in.
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