Nerdy (Varsity Tutors)
Edtech / tutoringUSA
📉 Public < $1B
Peak $1.7 BillionToday
−90%
from peak
- 🦄Became a unicorn2021
- 📈Peak valuation$1.7 Billion ’21
- 💔Became a Unitard2022
- 💸Last valuation~$167M
Current status
Public (NYSE: NRDY); market cap well below its $1.7B debut after a ~90% stock slide.
Live · NRDY· NYSE
as of 2026-06-29
$0.874▼ 2.47% today
≈ $167 Million market cap · −90.2% from peak
How it happened
Nerdy, the parent of Varsity Tutors, runs an online marketplace connecting students with live tutors and classes, and became St. Louis's first billion-dollar tech company when it went public in September 2021 via a SPAC merger with TPG Pace Tech Opportunities at a $1.7B valuation. Growth badly missed pre-merger targets, losses widened, and the rise of free AI chatbots like ChatGPT raised existential questions about paid online tutoring. The stock fell more than 90% from its peak, dragging Nerdy's market value well below $1B.
Source: TechCrunch / EdSurge / Motley Fool ($1.7B valuation via TPG Pace Tech Opportunities SPAC, Sept 2021; stock down 90%+ from peak; missed revenue targets, generative-AI tutoring threat)
