- Laureate works with more than 70 institutions in 25 countries.
- Laureate was taken private in a $3.8 billion deal in 2007 by a group of investors that included Snow Phipps Co and Kohlberg Kravis Roberts & Co. That partnership will continue to control the firm after the stock offering, according to the SEC filing.
Laureate Education CEO Douglas Becker, Nasdaq CEO Adena Friedman and Baltimore Mayor Catherine Pugh cheer Laureate's IPO.
Laureate on Times Square. (Photo via Nasdaq/Facebook)
1 and 3 weeks after IPO
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Headquartered in Harbor East, Laureate has grown into the largest global network of degree-granting higher-education institutions, owning and operating 71 universities in 25 countries, many in emerging markets. The firm employs more than 67,000 people globally and about 1,130 at its offices in Baltimore and Columbia. It is one of the few “B Corp” companies, those certified as meeting standards of social and environmental performance and accountability, to go public.
The company was born out of Sylvan Learning Corp., a tutoring company Becker and his business partners acquired in 1991. By that time, Maryland native Becker, who attended the Gilman School and was accepted at Harvard University but never attended, already had achieved entrepreneurial success. At 19, he developed the wallet-sized “LifeCard,” which was encoded with a person’s medical history and adopted by health insurers.
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