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The original non-profit edX sold its brand and most assets to 2U. The remaining non-profit entity was temporarily renamed “The Center for Reimagining Learning.”
by jefftk 2y ago
The original non-profit edX sold its brand and most assets to 2U. The remaining non-profit entity was temporarily renamed “The Center for Reimagining Learning.” Last year, this organization was officially named Axim Collaborative and appointed a new CEO. ... Axim appears to have become primarily a grant-giving organization. Besides supporting Open edX, there’s little evidence of using its “substantial resources” for innovation as initially promised. ... Axim’s current assets exceed the total amount edX spent during its entire non-profit phase.
A nonprofit built something, sold it for a lot more than it cost to create it, and now has the cash which it is legally required to spend furthering its mission. This seems generally reasonable to me, though of course Axim may end up spending its millions poorly.
- yieldcrv 2y agoThanks! That’s pretty cool and practical I could have thought of selling some assets, I didn’t think of selling even the name of the non profit and just renaming the old one It is funny that the original one now has cash that it doesnt spend after years of high churn, I’ll check out its non profit tax filings
- ahazred8ta 2y agoA good summary, although The Crimson is not happy with the results of the deal: https://www.thecrimson.com/article/2024/2/23/climaco-harvard-edx-education-sold/ https://www.thecrimson.com/article/2024/2/23/climaco-harvard...
- yieldcrv 2y agoNow they have the opportunity to buy it back from the for-profit in bankruptcy proceedings
- tourmalinetaco 2y agoHonestly? It would be a hilarious turn of events. I hope they do it and use the remaining money to revitalize their offerings and infrastructure.
- raybb 2y agoIsn't that kinda what happened with gumroad?