Jan 27, 2021 - Economy

Scoop: Varsity Tutors in talks to go public via TPG SPAC

Dan Primack

Illustration of divide sign made up of quarters and $100 dollar bill — Illustration: Eniola Odetunde/Axios

Nerdy, the parent company of online learning platform Varsity Tutors, is in talks to be acquired by a SPAC affiliated with private equity giant TPG, Axios has learned from multiple sources.

Why it matters: In less than a year, SPAC acquisitions have evolved from a niche market into a widely-accepted alternative to initial public offerings (IPOs).

Varsity Tutors, based in St. Louis, is a live learning platform that includes everything from K-5 tutoring to graduate school test prep and professional certifications.
Nerdy has raised over $100 million in venture capital funding from firms like TCV, Learn Capital and the Chan Zuckerberg Initiative.
The company has not returned request for comment on the deal, which has not yet been finalized.

Add Axios on Google

Scoop: Varsity Tutors in talks to go public via TPG SPAC

What to read next