The largest U.S.-based for-profit college chain went public Wednesday morning and in the process became the country's largest benefit corporation, a status designed to signify entities that are motivated by more than financial gain alone.
Laureate Education, which has more than a million students at 88 institutions across 28 countries, had been publicly traded since 2007. Several major for-profit higher education companies have over the last decade bounced back and forth between publicly and privately held status; also yesterday, by coincidence, the Apollo Group, owner of the University of Phoenix, formally went back into private hands.
"This is an important moment for us," Doug Becker, Laureate’s chief executive officer, said in an interview, adding that the company wants to continue investing in its missions and growth.
Read more at Inside Higher Ed: https://www.insidehighered.com/news/2017/02/02/laureate-becomes-largest-college-become-benefit-corporation