Nerdy Announces Appointment of Cathy Beaudoin, Former Amazon and Gap Executive, to its Board of Directors
ST. LOUIS–(BUSINESS WIRE)–$PACE–Nerdy Inc., the parent company of Varsity Tutors and a leading direct-to-consumer, curated gig economy platform for live online learning, today announced the appointment of Cathy Beaudoin to the company’s Board of Directors, as an Independent Director. Ms. Beaudoin brings more than 25 years of experience focused primarily on building brands and scaling e-commerce businesses for leading companies like Amazon and Gap.
“We are thrilled to welcome someone of Cathy’s caliber to our Board of Directors and look forward to leveraging her extensive industry expertise and experience building high-profile e-commerce brands,” said Chuck Cohn, Founder, Chairman and Chief Executive Officer of Nerdy. “Cathy has joined us at a pivotal moment in our business, as we expand the breadth and reach of our platform and start our journey as a public company. I am confident that the addition of her unique perspective will be an invaluable asset, as we look to scale and accelerate growth and ultimately achieve our long-term vision of transforming how people learn at all age levels.”
Ms. Beaudoin, a noted industry executive, joins Nerdy’s Board of Directors following an eight-year career with Amazon where she served as President of Amazon Fashion, leading the Amazon.com fashion business, Shopbop.com, and MyHabit.com. During her tenure, she brought hundreds of reputable brands to Amazon, leveraging technology and personalization to ultimately transform the business into the nation’s leading apparel retailer. Prior to Amazon, she served as Senior Vice President at Gap with responsibilities including acting as the general manager and internal founder of Piperlime, the e-commerce fashion business launched in 2005. While at Gap, Ms. Beaudoin held a number of senior marketing positions across the company’s Old Navy and Banana Republic brands, including at the Senior Vice President level. Ms. Beaudoin serves as a Senior Advisor at private equity firm General Atlantic and as a board member for Crate & Barrel Holdings, FORMA Brands and Grove Collaborative.
“I am excited to join the board of such a high-growth, disruptive technology company like Nerdy,” said Cathy Beaudoin. “I have been impressed with the strength of the management team and the superior personalized experience they offer through their innovative adaptive learning platform. It’s clear that Nerdy’s business is inflecting now, as revenue growth and engagement are accelerating, and I look forward to lending my expertise to help capitalize on the multiple growth vectors and build on the current momentum.”
This announcement comes on the heels of the company’s recent agreement to become a public company through a business combination with TPG Pace Tech Opportunities (NYSE: PACE), a publicly traded special purpose acquisition company associated with global private equity firm TPG. Nerdy’s flagship business, Varsity Tutors, is one of the nation’s largest platforms for live online tutoring and classes. The growing demand and enthusiasm for online learning platforms has resulted in rapid user and revenue growth, including an 87% year-over-year increase in online revenue and a 169% increase in paid online sessions in the fourth quarter of 2020.
Nerdy is a leading curated gig economy and direct-to-consumer platform for learning and live online instruction. Nerdy’s mission is to transform the way people learn through technology. The Company’s purpose-built proprietary platform leverages technology, including AI and machine learning, to connect learners of all ages to experts and deliver superior value on both sides of the network. Nerdy’s comprehensive learning destination provides learning experiences across 3,000+ subjects and multiple formats—including one-on-one instruction, small group classes, large format group classes, and adaptive self-study. Nerdy’s flagship business, Varsity Tutors, is one of the nation’s largest platforms for live online tutoring and classes. Learn more about Nerdy at https://www.nerdy.com/.
ICR for Nerdy Inc.