Nerdy, Inc.
| Public | |
| Traded as | NYSE: NRDY |
| ISIN | 🆔 |
| Industry | Educational technology |
| Founded 📆 | 2007 in St. Louis, Missouri, U.S. (as Varsity Tutors) |
| Founder 👔 | Charles Cohn |
| Headquarters 🏙️ | , Clayton, Missouri , U.S. |
Area served 🗺️ | |
Key people | Charles Cohn (Chairman and CEO) |
| Products 📟 | Varsity Tutors; Varsity Tutors for Schools |
| Members | |
Number of employees | |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
Nerdy, Inc. is an American educational technology company headquartered in Clayton, Missouri. It operates online learning platforms, chiefly Varsity Tutors, which connects students with tutors and instructors for online tutoring, test preparation, and live online classes.[1][2] Varsity Tutors was founded in 2007 by Charles Cohn while he was a student at [[Washington University in St. Louis]].[3] The company became publicly traded in 2021 through a merger with a special-purpose acquisition company and trades on the New York Stock Exchange under the ticker symbol NRDY.[1][4]
History
Varsity Tutors was founded in 2007 by Charles Cohn in an entrepreneurship course at Washington University in St. Louis, initially as an in-person tutor marketplace.[3][5] The company later shifted to an online, live-learning model.[6]
In 2015 it raised a Series B round led by Technology Crossover Ventures, with participation from musician Adam Levine.[3] In 2018 it raised a further $50 million from investors including the Chan Zuckerberg Initiative and Learn Capital.[3][5] The company acquired UK-based First Tutors in 2017 and test-prep provider Veritas Prep in 2019.[7] During the COVID-19 pandemic it offered free online classes through a "Virtual School Day" program.[8]
In 2021, parent company Nerdy, Inc. became a public company via a merger with TPG Pace Tech Opportunities, a SPAC, in a deal that valued Nerdy at about $1.7 billion.[1][4][2] From 2023 the company introduced artificial-intelligence features across its products.[9]
Platform and products
Nerdy's flagship business, Varsity Tutors, offers one-on-one tutoring, small-group and large- format classes, test preparation, and self-study tools across thousands of subjects.[1] Through Varsity Tutors for Schools, it also provides services to educational institutions.[9]
References
- ↑ 1.0 1.1 1.2 1.3 "Nerdy, a tutoring marketplace startup, is going public via SPAC". TechCrunch. 2021-01-29.
- ↑ 2.0 2.1 "Varsity Tutors' parent company becomes St. Louis' newest public company". St. Louis Business Journal / KSDK. 2021.
- ↑ 3.0 3.1 3.2 3.3 AUTHOR-LASTNAME, AUTHOR-FIRSTNAME (2018-02-13). "Varsity Tutors CEO Chuck Cohn scores investment from Zuckerberg, others". CNBC.
- ↑ 4.0 4.1 Primack, Dan (2021-01-27). "Varsity Tutors in talks to go public via TPG SPAC". Axios.
- ↑ 5.0 5.1 "Varsity Tutors raises $50 million; Chan Zuckerberg Initiative joins round". VentureBeat. 2018.
- ↑ "Varsity Tutors, the online platform for learning, launches a mobile app". TechCrunch. 2016-05-24.
- ↑ "Varsity Tutors acquires Veritas Prep to expand into live online classes". TechCrunch. 2019-01-22.
- ↑ "Varsity Tutors launches Virtual School Day for free amid COVID-19 school closures". TechCrunch. 2020-03-16.
- ↑ 9.0 9.1 "AI is writing 30% of software code at this Clayton-based firm". St. Louis Business Journal / KSDK. 2023.
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