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.
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.