The 12-year-old education-technology company ConnectEDU filed for bankruptcy protection on Monday and dismissed some 55 of its 65 or so employees, the Boston website BostInno reported.
ConnectEDU was best known for its online database of student information that it hoped would help colleges recruit students. But it had other ambitions as well, and as recently as last September it received a $500,000 grant from the Bill & Melinda Gates Foundation to create an online-learning platform tied to the Common Core State Standards. The company’s bankruptcy filing said its assets totaled between $1-million and $10-million, while liabilities amounted to between $10-million and $50-million.
The company said in a news release that it hopes to reorganize and keep at least part of its business alive, BostInno reported.Return to Top