IBL News

Category: Top News

  • Elon Musk Buys Twitter for $44 Billion and Takes Private the Social Network

    Elon Musk Buys Twitter for $44 Billion and Takes Private the Social Network

    IBL News | New York

    Twitter (NYSE: TWTR) announced today that it accepted Tesla CEO Elon Musk’s offer to acquire the social media company at $54.20 per share in cash, in a deal valued at $44 billion.

    Twitter Board of Directors unanimously approved the transaction, which is expected to close in 2022.

    The purchase price represents a 38% premium to Twitter’s closing stock price on April 1, 2022, which was the last trading day before Mr. Musk disclosed his approximately 9% stake in Twitter.

    Shares of Twitter Inc. rose 6% Monday to $52 per stock. The stock is still well below the high of $77 per share it reached in February 2021.

    Upon completion of the deal, Twitter will become a privately held company by a firm wholly owned by Elon Musk.

    Elon Musk secured $25.5 billion of fully committed debt and margin loan financing and is providing an approximately $21.0 billion equity commitment.

    Last week, Musk lined up $46.5 billion in financing to buy Twitter, putting pressure on the company’s board to negotiate a deal.

    “The Twitter Board conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing,” Twitter’s Independent Board Chair Bret Taylor said of the deal.

    “The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter’s stockholders.”

    Elon Musk, who is the world’s wealthiest person Musk is the world’s wealthiest person, with a nearly $279 billion fortune, said, “I want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spambots, and authenticating all humans. Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it.”

    “Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated.”

    With 83 million followers on his account, Musk is a prolific writer with a following that rivals several pop stars.

    Musk has described himself as a “free-speech absolutist”, but is also known for blocking other Twitter users who question or disagree with him.

    In recent weeks, he has voiced a number of proposed changes for the company, from relaxing its content restrictions — such as the rules that suspended former President Donald Trump’s account — to ridding the platform of fake and automated accounts and shifting away from its advertising-based revenue model.

    Musk believes he can increase revenue through subscriptions that give paying customers a better experience, perhaps even an ad-free version of Twitter.

    After the deal was announced, the civil rights organization NAACP released a statement that urged Musk not to allow former President Trump, the 45th president, back onto the platform.

     

  • Advanced Technology Will Boost the Global Market to One Trillion by 2030

    Advanced Technology Will Boost the Global Market to One Trillion by 2030

    IBL News | New York

    The global education technology market will reach $998.4 billion by 2030, with a CAGR (compound annual growth rate) of 17.3%, according to market researcher P&S Intelligence. The market size was estimated at $237.6 billion in 2021.

    The growth will be fueled by the emergence of AI, IoT, digitalization, and EdTech solutions. The incorporation of VR and AR will support a more interactive learning experience.

    Additionally, blockchain technology will enable users to store and secure the records of students and learners, thereby allowing administrators and educators to analyze the consumption patterns and make data-driven decisions.

    Other driving factors will be the developments in connectivity infrastructure, surging smartphone penetration, increased speed of the internet and 5G technology, smartphone apps, and growing investments by private equity and venture capital firms.

    This researcher emphasizes the rising usage of EdTech in China and India, boosted by their government’s financial help. Today, China has 282 million students and 17.32 million teachers in more than 530,000 schools, according to UNICEF.

    The COVID-19 pandemic has boosted the adoption of advanced educational technology, forcing many students to enhance their skills and strengthening their reliance on educational technology.

  • Open edX & Learning Platforms Newsletter | March – April 2022: Cornerstone – EdCast, Zoom, Class.com, D2L, Jenzabar, Canvas, Docebo, Labster…

    Open edX & Learning Platforms Newsletter | March – April 2022: Cornerstone – EdCast, Zoom, Class.com, D2L, Jenzabar, Canvas, Docebo, Labster…

    [ Newsletter format  |  Click here to subscribe ]

     

    MARCH – APRIL 2022 – NEWSLETTER #44  |  Breaking news at IBL News  |  Noticias en Español

     

    Open edX

    • Open edX Reorganizes Its Collaboration Tools on the Software Roadmap

    • Open edX Releases Its 2022 Conference Schedule Centered on the Future of Work

    • Ukrainian Tech Company Receives Support from the Open edX Community

     

    edX Platform

    • Cornerstone Acquired EdCast, a Learning Platform that Uses Open edX

    • 2U – edX Removes Six Russian Universities from Its Content Platform

     

    Coursera

    • Coursera’s CEO Says that Company Revenues Will Grow 30% in 2022

    • Coursera Announced Three New Master’s Programs from U.S. and U.K. Universities

     

    Learning Platforms: Functionalities

    • Zoom Releases New Features for Education, Including Breakout Rooms

    • Class.com Partners with Intel to Develop New Teaching Functionalities

    • D2L Will Integrate the Zoom-Based Class.com Platform this Quarter

    • Engageli Launches the Version 2.0 of Its Learning Platform

    • Anthology Learning Platform Creates a Virtual Summit on Policy and Practice

    • Well-Funded Go1 Corporate Library Will Offer Custom Lessons from Pluralsight

     

    Learning Platforms: Acquisitions and Results

    • Jenzabar Buys a Leading Marketing Company to Face Student Decline Crisis

    • Canvas LMS Acquires the Micro-Credentials Issuer and Partner Badgr

    • Labster Nabs Another $47 Million in Capital to Expand Its Science Simulations Business

    • Docebo Increased Its Net Loss to $13.6M in 2021 Despite Gaining Known Brands

     

    2022 Events | All of the Key Conferences Listed!

    • Education Calendar 2022  – APRIL | MAY | JUNE | JULY |  Conferences in Latin America & Spain

     

    This newsletter was created in collaboration with IBL Education, a New York City-based company specializing in AI-driven, skills learning platforms. We also film and produce courses for universities and business organizations. Read the latest IBL Newsletter   |  Archive of Open edX Newsletters

  • Online Learning Newsletter | March – April 2022: Skills and Life-Long Learning, Crypto, Universities, Start-Ups…

    Online Learning Newsletter | March – April 2022: Skills and Life-Long Learning, Crypto, Universities, Start-Ups…

    [ Newsletter format  |  Click here to subscribe ]

    MARCH – APRIL 2022 – NEWSLETTER #50  |  Breaking news at IBL News  |  Noticias en Español

     

    Skills & Life-Long Learning

    • Digital Credentials Will See an Explosion of Demand, Experts Say

    • “People Will Be Learning All Their Life,” Said Crow at the ASU+GSV Summit

    • “One-Third of Employees Are Shifting Their Hiring Practices into Skills,” Says WGU’s President

    • President Biden Showed His Support to Skills-Based Education and Hiring

    • Seven Online Learning Trends and Areas of Growth for this Decade

    • Skills Management EdTech Company Territorium Partnered with Non-Profit Credential Engine

     

    Crypto

    • Opera Launches its Crypto Browser with a Built-In Wallet for iOS Phones and iPads

    • “Crypto Will Give Everyone the Tools to Build Wealth,” States an Insightful Report

    • Crypto Deepens Financial Literacy Education Gaps Across Millennials

    • Skills Management EdTech Company Territorium Partnered with Non-Profit Credential Engine

     

    Universities

    • Stanford Replaces Harvard as the Preferred Dreamed University

    • MIT Reinstates SAT/ACT Requirement for Student Admissions

    • Prof. Lorena A. Barba Awarded a Doctor Honoris Causa from Top Chilean University

    • CUNY Online Will Launch Ten Associate, Bachelor’s, and Master’s Degree Programs by Spring 2023

    • A Vulnerability on a Popular App on Campuses Allows to Open Unlocked Doors

    • Stanford University Ends a $1.7M Contract with a Russian Entity

    • Protests, Demonstrations, and Institutional Measures in U.S. Universities Against the Invasion of Ukraine

    • New York State Lifts Its Mask Mandate for Public School Students

     

    Policy

    • U.S. Secretary of Education Asked for a Disruption of the System Since “It is not Designed for Everyone”

    • China’s Harsh Regulation on Education Resulted in 200K Layoffs and $100B Wiped Off

    • Only One in Three Science and Engineering Researchers Is a Woman, the UN Denounces

    • The UN Launches an Initiative to Improve Nutrition in Schools

     

    Public Companies

    • Intel and the NSF Will Invest $150 Million in Semiconductor Manufacturing Education

    • Chegg Hires a Former VP of edX for Shaping a New Learning Strategy

    • Amazon Will Fully Pay College Tuition to Its 750,000 American Employees

    • Amazon Will Provide Educational Resources to Immigrant Employees

    • AT&T Launches a Standards-Aligned Learning and Entertainment Platform for K-12 Students

    • ETS Appoints a New President and CEO to Succeed Walt MacDonald

     

    Start-Ups

    • Fast Company Selects the Most Innovative Educational Companies

    • Data Management Top 50 Start-Ups Are Valued Over 100 Billion

    • Fusion Academy Will Open Four New Schools by June

    • InfluxData Creates an Online University to Educate Developers on Time-Series Data

    • European GoStudent Opens in the U.S., Offering Its Low-Cost Tutoring Service

     

    Transactions

    • Ellucian Completes the Acquisition of Financial Aid Company CampusLogic

    • Private Equity Firm Veritas Buys Mifflin Harcourt Company for $2.8 Billion

     

    2022 Events | All of the Key Conferences Listed!

    • Education Calendar 2022  –  APRIL | MAY | JUNE | JULY |  Conferences in Latin America & Spain

    This newsletter was created in collaboration with IBL Education, a New York City-based company specializing in AI-driven, open-source learning platforms. We also film and produce courses for universities and business organizations. Read the latest IBL Newsletter   |  Archive of Open edX Newsletters

     

     

  • Ellucian Completes the Acquisition of Financial Aid Company CampusLogic

    Ellucian Completes the Acquisition of Financial Aid Company CampusLogic

    IBL News | New York

    Higher Education technology provider Ellucian announced yesterday the completion of its acquisition of CampusLogic, a SaaS company that provides student financial aid solutions to 800 institutions reaching five million users.

    The transactional deal was not disclosed. Goldman, Sachs & Co. was the financial advisor to CampusLogic. The purchase announcement was issued in January 2022.

    Laura Ipsen, President and CEO at Ellucian, said that financial security is the most pressing need of today’s students. Also, Gregg Scoresby, Founder and CEO of CampusLogic, said that this issue “remains a national priority.”

    “When I started CampusLogic almost 11 years ago, I wanted to build a software company that would transform the student financial experience in higher education,” he explained.

    Ellucian recently launched its Experience Platform, which integrates ERP/SIS and CRM solutions.

    CampusLogic’s solution suite includes StudentForms, Scholarship Universe, CampusCommunicator, RaiseMe Enrollment, ClearCost, VirtualAdvisor, and SponsoredScholar.

  • Open edX Reorganizes Its Collaboration Tools on the Software Roadmap

    Open edX Reorganizes Its Collaboration Tools on the Software Roadmap

    IBL News | New York

    The Open edX organization, now called The Center for Reimagining Learning (tCRIL), reorganized the spaces and tools for developers to interact with the software of the platform. The idea is to provide more transparency and facilitate engagement with Open edX product managers across the ecosystem.

    • The Open edX Roadmap captures and documents all the contributions to the platform. Now, it includes all the contributions that will be shipped in the Nutmeg release — the last version of the Open edX platform — in June. An issue template on Github, along with a how-to guide and a FAQ page, allows developers to submit their contributions to the roadmap.

    The Product Working Group will meet for the first time at the Open edX conference in Lisbon on April 26-29, agree on a manifesto, and discuss goals and focus projects for the next three months.

  • Coursera’s CEO Says that Company Revenues Will Grow 30% in 2022

    Coursera’s CEO Says that Company Revenues Will Grow 30% in 2022

    IBL News | New York

    Over two-thirds of the employees that Coursera hired in the first half of 2021 were not close to its Mountain View office in the Silicon Valley. Of those, 41% identify as Black/African American or Latinx.

    In an interview with the Financial Times, Jeff Maggioncalda, CEO of Coursera, explains that the learning company hires from the global talent pool, not just within commuting distance. “A diverse workforce is a very important strategic recruiting advantage,” he said.

    Regarding the company results, Maggioncalda believes the business is performing well. “If you look at our growth rate, we increased revenues 59% in 2020, and grew them 41% in 2021 . . . we just announced in our last earnings call that we plan to grow 30% in 2022,” he stated.

    Despite the claim, in 2021, Coursera made a net loss of $145 million compared with a $67 million net loss in 2020. Market capitalization has dropped to almost half, $3 billion, since the company went public in March 2021.

    “Burnout and work-life balance are two of the big challenges that we need to really address as a company,” he said. “And if we don’t address it effectively, I think our turnover will be high. We’ve got to continue to figure that out.”

  • Opera Launches its Crypto Browser with a Built-In Wallet for iOS Phones and iPads

    Opera Launches its Crypto Browser with a Built-In Wallet for iOS Phones and iPads

    IBL News | New York

    Oslo, Norway – based Opera (NASDAQ: OPRA) announced the iOS version of its browser with a crypto wallet built in. It was previously available on Windows, Mac, and Android devices.

    The Opera Crypto Browser, as it has been named, is built with Web3 at its core. It has been introduced as “the world’s first dedicated crypto browser.”

    The app’s built-in crypto wallet supports Ethereum, Polygon, and Celo blockchain technology.

    It also uses cryptocurrency mining protection to block crypto-jacking scripts.

    With a native built-in ad blocker, Opera Crypto Browser, it includes a space for crypto and blockchain news related, with educational content and events.

    Users can access Web3 NFTs and decentralized apps, including 7,000 Polygon-supported services.

    To address environmental concerns about the high energy usage of blockchain, Opera said it was working on integrating Ethereum Layer 2 solutions.

    The desktop version is at www.opera.com/crypto/next.

  • Jenzabar Buys a Leading Marketing Company to Face Student Decline Crisis

    Jenzabar Buys a Leading Marketing Company to Face Student Decline Crisis

    IBL News | New York

    Boston-based EdTech Jenzabar, Inc. announced yesterday the acquisition of marketing firm Spark451 for an undisclosed amount. The transaction comes a a time when enrollment strategies are seen as a solution to overcome the declining student population in the U.S. higher education.

    “By acquiring Spark451, we can better help institutions build future-proof enrollment strategies that allow them to find, attract, and engage with their best-fit students while simultaneously extending their reach toward the fast-growing, non-traditional student population,” said the company.

    Based in Westbury, NY, Spark451 is known for using data and strategic marketing techniques, including analytics and predictive modeling. It specializes in enrollment marketing, student search, creative services, and digital media, serving over 200 higher education institutions.

    The enrollment crisis has continued amid the pandemic. According to the National Student Clearinghouse Research Center, overall undergraduate enrollment dropped by 6.6% from 2019 to 2021, representing a decline of over 1.2 million students, while community college enrollment dipped by 13%.

    This enrollment decline is forcing colleges of all sizes to find new ways to build their brands, achieve their enrollment goals, and create new revenue streams by attracting non-traditional students who want to secure lucrative jobs in technology, healthcare, business, and other sectors.

    “The model for higher education needs to be reinvented as learner demands change,” said Ling Chai Maginn, Founder, President, and CEO of Jenzabar.

  • Canvas LMS Acquires the Micro-Credentials Issuer and Partner Badgr

    Canvas LMS Acquires the Micro-Credentials Issuer and Partner Badgr

    IBL News | New York

    Instructure Holdings, Inc. (NYSE: INST), owner of Canvas LMS, announced yesterday the acquisition of partner Concentric Sky, the maker of Badgr, for an undisclosed amount.

    Currently, Badgr is the default micro-credentialing tool within Canvas LMS. Now, Badgr will be rebranded as “Canvas Badges.”

    “With Badgr, the Concentric Sky team has developed the gold standard for verifiable, skill-aligned micro-credentials, fast becoming the currency between learning outcomes and employment opportunities,” said Steve Daly, CEO of Instructure. “Colleges and universities are seeking innovative new ways to support non-traditional learners and those students want a greater agency to demonstrate skills and achievements to potential employers.”

    Users of the platform can also upgrade to Badgr Pro’s advanced suite of tools in new “Canvas Credentials,” offering unlimited badging, leaderboards, analytics, and personalized pathway progress visualizations.

    According to Instructure’s 2021 State of Student Success and Engagement in Higher Education survey, preparing students for post-graduate careers is the #1 concern. However, administrators and students agree that this is where institutions struggle most.

    Skills-based learning also emerged as a priority, with 70% of respondents saying that having definable skills is more important than course titles or a degree.

    Founded in 2005, Concentric Sky has 90 employees and provides recognition from over 25,000 issuing organizations. Concentric Sky has been a contributor to the field of open technology standards, joining forces with the MacArthur Foundation to lead the development of Open Badges 2.0 in 2015 and co-founding the Open Skills Network in 2020.