St. Louis Startup Varsity Tutors to Go Public At $1.7B Valuation
Nerdy, the parent company of Varsity Tutors, an online tutoring platform, will be acquired by TPG Pace Tech Opportunities, a special purpose acquisition company.
The deal will give Nerdy a valuation of $1.7 billion, making it the first billion-dollar technology company based in St. Louis, according to the St. Louis Post-Dispatch.
Better known by its Varsity Tutors brand, Nerdy was founded in 2007 by Chuck Cohn, then an undergraduate at Washington University in St. Louis. It began as an online directory where students could find local tutors for in-person sessions, and Cohn continued working on it as a side business after he graduated and worked in finance. He rejoined in 2011 and became its full-time CEO.
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