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| {{merge|Laureate International Universities|discuss=Talk:Laureate International Universities#Proposed merge with Laureate Education|date=October 2014}} | |||
| {{COI|date=October 2014}} | |||
| {{tone|date=October 2014}} | |||
| '''Laureate Education, Inc.''' is a private ] company headquartered in ], ]. | |||
| Laureate is the US largest for-profit education corporation by enrollment, with more than 950,000 students worldwide. Its US subsidiary is ] <ref>http://www.laureate.net/AboutLaureate</ref> It has schools in North America, Europe, Latin America, the Middle East, Asia, and Africa. <ref>http://www.laureate.net/OurNetwork</ref> | |||
| ==History== | |||
| The company was founded by Douglas L. Becker. The company was originally created by ] in 1998 as an operational division to focus on ] institutions and called '''Sylvan International Universities'''. When the division was created, Sylvan was a public company primarily focused on educational services for students in primary and secondary education through company owned and franchise locations.<ref>{{cite news| url=http://www.nytimes.com/1999/01/20/us/sylvan-plans-overseas-college-network.html | work=The New York Times | first=William H. | last=Honan | title=Sylvan Plans Overseas College Network | date=20 January 1999}}</ref> | |||
| The company’s first investment was Spain’s ] in 1999, quickly followed by investments in post-secondary institutions in Mexico's ], Chile's ] and Switzerland's ] and its first investment in online higher education, ] in the United States.<ref>{{cite news| url=http://findarticles.com/p/articles/mi_m0EIN/is_2000_Dec_7/ai_67687292/ }}</ref> | |||
| In March 2003, Sylvan Learning Systems decided to focus exclusively on post-secondary education.<ref name=walsh>{{cite news|last=Walsh|first=Mark|title=Sylvan Learning, Changing Focus, Sells K-12 Sector|url=http://www.edweek.org/ew/articles/2003/03/19/27sylvan.h22.html|accessdate=22 October 2013|newspaper=Education Week|date=19 March 2003}}</ref> The company sold the ] business units, as well as the Sylvan name and trademark, to a new company, Educate, Inc., formed by ]. In 2004, Sylvan changed its name to Laureate Education, Inc, to reflect the change in focus.<ref name=renamed>{{cite news|title=Sylvan Learning Renamed|url=http://www.nytimes.com/2004/05/18/business/sylvan-learning-renamed.html|accessdate=22 October 2013|newspaper=New York Times|date=18 May 2004}}</ref> | |||
| In 2007, the company was acquired by an investor group led by Douglas Becker.<ref>{{cite news| url=http://dealbook.nytimes.com/2007/01/29/management-group-to-take-laureate-education-private/ | work=The New York Times | title=Management Group to Take Laureate Education Private | date=29 January 2007}}</ref> | |||
| In January 2013, the ], a member of the ], made a $150 million equity investment in Laureate to expand access to quality higher education in emerging markets.<ref>{{cite news|last=Redden |first=Elizabeth |url=http://www.insidehighered.com/news/2013/01/24/world-bank-affiliate-invests-150-million-profit-college-provider |title=World Bank affiliate invests $150 million in for-profit college provider |publisher=Inside Higher Ed |date=2014-03-03 |accessdate=2014-03-07}}</ref><ref>{{cite news|last=Kilar |first=Steve |url=http://www.baltimoresun.com/business/bs-bz-laureate-education-20130123,0,1784550.story |title=World Bank invests in Baltimore-based Laureate Education |publisher=Baltimore Sun |date=2013-01-23 |accessdate=2014-03-07}}</ref> | |||
| ], a provider of ], announced in July 2013 that it raised $43 million in investments from a group that included Laureate Education, Inc., the World Bank’s investment arm, LearnCapital Venture Partners, GSV Capital and venture capitalist Yuri Milner. | |||
| <ref>{{cite news|author=Melissa Korn |url=http://blogs.wsj.com/digits/2013/07/10/online-education-startup-coursera-raises-another-43-million/ |title=Online Education Startup Coursera Raises $43 Million - Digits |publisher=Blogs.wsj.com |date=2013-07-10 |accessdate=2014-03-07}}</ref> | |||
| Arizona-based ] announced a partnership with Laureate in March 2013 to set up a joint venture that will provide capital support to Thunderbird to open multiple international instruction sites and expand its executive education and online programs.<ref>http://www.ft.com/intl/cms/s/2/9fabac92-8fe3-11e2-ae9e-00144feabdc0.html?ftcamp=published_links%2Frss%2Fbusiness-education%2Ffeed%2F%2Fproduct#axzz2OqAZY3yY</ref> | |||
| In December 2013, Laureate announced that its shareholders elected three independent directors: ], former ] president;<ref>{{cite web|url=http://belfercenter.ksg.harvard.edu/experts/295/robert_b_zoellick.html}}</ref> ], president of the ];<ref>{{cite web|url=http://www.rockefellerfoundation.org/about-us/our-team/judith-rodin-phd}}</ref> and ], principal of the Muñoz Investment Banking Group.<ref>{{cite web|url=http://www.marketwatch.com/investing/stock/mar/insiders?pid=31156}}</ref> | |||
| ] has been an honorary chancellor and supporter of Laureate. <ref>http://articles.baltimoresun.com/2010-04-26/business/bs-bz-laureate-bill-clinton-20100426_1_laureate-education-laureate-international-universities-higher-education</ref> | |||
| <ref>http://www.bloomberg.com/news/articles/2014-01-06/clinton-pitches-kkr-backed-college-chain-amid-controversy</ref> | |||
| <ref>http://dailycaller.com/2014/01/13/why-are-the-clintons-hawking-a-seedy-soros-backed-for-profit-college-corporation/</ref> | |||
| ==Finances== | |||
| According to the Washington Post "Laureate is backed by several of the biggest names in finance, including ], ], ] and ]." <ref>http://www.washingtonpost.com/business/laureate-a-for-profit-education-firm-finds-international-success-with-a-clintons-help/2014/01/16/13f8adde-7ca6-11e3-9556-4a4bf7bcbd84_story.html</ref> | |||
| Laureate’s annual revenue is approximately $4 billion. <ref>http://www.washingtonpost.com/business/laureate-a-for-profit-education-firm-finds-international-success-with-a-clintons-help/2014/01/16/13f8adde-7ca6-11e3-9556-4a4bf7bcbd84_story.html</ref> The company holds $3.5 billion in debt. <ref>https://www.insidehighered.com/news/2013/10/10/laureates-growing-global-network-institutions</ref> | |||
| Approximately 78 percent of Laureate's US domestic revenues are derived from federal funds, which includes ], federal ], and ] funds. <ref>http://www.help.senate.gov/imo/media/for_profit_report/PartII/Walden.pdf</ref> | |||
| ==Faculty== | |||
| Laureate Education is highly dependent on ] and contingent labor. For example, more than 90 percent of Walden’s faculty is employed on a part-time basis.<ref>http://dailycaller.com/2014/01/13/why-are-the-clintons-hawking-a-seedy-soros-backed-for-profit-college-corporation/2/</ref> | |||
| ==Advertising and Marketing== | |||
| Laureate spends in excess of $200 million per year on advertising, including television commercials, online campaigns and billboards.<ref>http://www.washingtonpost.com/business/laureate-a-for-profit-education-firm-finds-international-success-with-a-clintons-help/2014/01/16/13f8adde-7ca6-11e3-9556-4a4bf7bcbd84_story.html</ref> | |||
| ==Institutions and Operations== | |||
| ''See ]'' | |||
| ==Investigations, Lawsuits, and Controversies== | |||
| Laureate has schools in Turkey and Chile, even though for-profit schools are banned. <ref>http://www.washingtonpost.com/business/laureate-a-for-profit-education-firm-finds-international-success-with-a-clintons-help/2014/01/16/13f8adde-7ca6-11e3-9556-4a4bf7bcbd84_story.html</ref> | |||
| In Brazil, the Rio State Legislature’s Investigative Commission on Private Universities issued a report criticizing for-profit colleges like Laureate for firing professors. <ref>http://www.washingtonpost.com/business/laureate-a-for-profit-education-firm-finds-international-success-with-a-clintons-help/2014/01/16/13f8adde-7ca6-11e3-9556-4a4bf7bcbd84_story.html</ref> | |||
| ==References== | |||
| {{reflist}} | |||
| ==External links== | |||
| * | |||
| {{Kohlberg Kravis Roberts}} | |||
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| ==See Also== | |||
| ] | |||
Latest revision as of 18:08, 14 July 2019
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