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  "documentTitle": "2U, Inc. (TWOU)",
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  "notes": "The slide uses data from semrush.com to demonstrate rising customer acquisition costs in the online education sector.",
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      "text": "Our analysis shows that online search costs are going up 12% to 27% depending on the vertical.",
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      "text": "Costs per Click (CPC): 27%",
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      "text": "(1) Total is weighted by the annualized click volume\nSource: semrush.com",
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      "text": "Our Own Work Illustrates \"Paid Search\" Costs Are Growing 12% to 27%",
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