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2U Inc., of Landover, a maker of software for institutions of higher education, became a public company on Friday with an initial public offering of 9.175 million shares of common stock priced at $13 per share, trading on Nasdaq under the symbol TWOU.
The company and certain selling stockholders are giving underwriters a 30-day option to buy up to an additional 1.4 million shares.
In a regulatory filing, 2U reported a loss of $28.3 million for 2013 on revenue of $83.1 million, up almost 50 percent from its 2012 revenue, The Associated Press reported.
2U’s software helps colleges and universities hold classes online.
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