Nerdy Announces Appointment of Kathleen Philips, Former Zillow and StubHub Executive, to its Board of Directors

Rhea-AI Summary

Nerdy, the parent company of Varsity Tutors, announced the appointment of Kathleen Philips as an Independent Director to its Board. Philips brings over 25 years of executive experience, notably at Zillow Group, where she held key roles, including CFO and COO. Her expertise in corporate finance and technology is expected to enhance Nerdy's mission to revolutionize online learning. Following a business combination with TPG Pace Tech Opportunities (NYSE:PACE), Nerdy reported significant growth, with an 87% increase in online revenue and a 167% rise in paid online sessions during Q4 2020.

Positive

• Appointment of Kathleen Philips as an Independent Director, bringing extensive experience from Zillow Group.
• Philips's background in corporate finance and technology is expected to strengthen Nerdy's objectives.
• Nerdy's business combination with TPG Pace Tech Opportunities has increased visibility and funding opportunities.
• Significant growth marked by an 87% year-over-year increase in online revenue.

Negative

• None.

Nerdy, the parent company of Varsity Tutors and a leading curated direct-to-consumer platform for live online learning, today announced the appointment of Kathleen Philips to the company’s Board of Directors, as an Independent Director.

Kathleen Philips (Photo: Business Wire)

“We are pleased to welcome Kathleen to our Board of Directors given her extensive professional experience across nearly all executive functions within Zillow and other companies,” said Chuck Cohn, Founder, Chairman and Chief Executive Officer of Nerdy. “As we continue to transform the way in which people learn on a broad scale, Kathleen’s experience leading companies through critical milestones will make her a vital addition to our Board.”

Ms. Philips joins Nerdy’s Board of Directors following a successful 25-year career. She most recently served in a variety of senior roles at Zillow Group, the most-visited real estate website in the United States. During her eight-year tenure at Zillow Group, her roles included Chief Financial Officer, Chief Operating Officer and Chief Legal Officer. Ms. Philips played a pivotal role in Zillow’s corporate finance initiatives including its initial public offering, follow–on equity offerings, and ten company acquisitions, including Trulia, StreetEasy and HotPads. Prior to Zillow Group, Ms. Philips served as General Counsel for companies including StubHub, Hotwire, and FanSnap, as well as an Associate Attorney for Cooley Godward. She currently serves as a board member for Accel Entertainment, The Knot Worldwide, and Axiom Global. Ms. Philips earned her juris doctor with honors from the University of Chicago Law School and her bachelor’s degree with distinction from the University of California, Berkeley.

“It’s an honor to join the Board of Directors at Nerdy as they continue to transform online learning,” said Kathleen Philips. “I am passionate about disruptive companies, especially those like Nerdy whose technologies add unprecedented value to the lives of their consumers. I’m looking forward to leveraging my financial and legal experience in the technology sector to help Nerdy fulfill its important and impactful mission.”

In January 2021 Nerdy agreed to 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 167% increase in paid online sessions in the fourth quarter of 2020.

About Nerdy

Nerdy is a leading curated direct-to-consumer platform for live online learning. Nerdy’s mission is to transform the way people learn through technology. The Company’s purpose-built proprietary platform leverages technology, including AI, to connect learners of all ages to experts, delivering 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/.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210408005221/en/

FAQ

Who is Kathleen Philips, and what experience does she bring to Nerdy?

Kathleen Philips is a newly appointed Independent Director at Nerdy, with over 25 years of experience, including senior roles at Zillow Group such as CFO and COO.

How has Nerdy performed financially in recent quarters?

Nerdy reported an 87% increase in online revenue and a 167% increase in paid online sessions in Q4 2020.

What is the significance of the business combination with TPG Pace Tech Opportunities for Nerdy?

The business combination with TPG Pace Tech Opportunities enhances Nerdy's funding and growth potential in the online learning market.

What is Nerdy's mission in the online learning sector?

Nerdy's mission is to transform the way people learn through technology, connecting learners to experts across various subjects.