Spectrum Enterprise | June 30, 2020
Charter Communications, Inc. today announced the planned addition of five Latino targeted TV networks – Kids Central, ¡HOLA! TV, Inglés Para Todos, Tarima TV and Hogar de HGTV – to its Spectrum TV lineup. The networks, which offer a range of family-friendly, lifestyle, home and garden and educational programming in Spanish and English, will be available at no additional cost to subscribers of Spectrum’s Mi Plan Latino and Latino View TV packages.
Nerdy | September 24, 2021
Nerdy, a leading platform for delivering live online learning, today announced that it has completed its business combination with TPG Pace Tech Opportunities a publicly traded special purpose acquisition company. The Business Combination was approved on September 14, 2021 by TPG Pace Tech Opportunities’ stockholders. Beginning September 21, 2021, Nerdy common stock and warrants will trade on the New York Stock Exchange under the ticker symbols “NRDY” and “NRDY WS”, respectively.
Nerdy has an ambitious mission to transform how people learn, and this transaction sets us up to accelerate the growth of live online learning at a pivotal moment when students and schools across the country need immense support. Our entry into the public market represents an important milestone for the Company and provides the resources necessary to go after the massive and growing opportunity in front of us. I want to recognize the dedication of the entire Nerdy team and could not be prouder of what we have achieved thus far. We’re just getting started and have an exceptional team in place to drive the next chapters of growth for our organization
Chuck Cohn, Founder, Chairman and CEO of Nerdy
Greg Mrva, President of TPG Pace Tech Opportunities, said, “We were attracted to Nerdy for its proven business model, strong leadership team, and ability to deliver live personalized learning at scale for learners of all ages and across thousands of subjects. With these attributes in place, Nerdy has delivered on growth in 2021 through core 1:1 and multi-format instruction and has recently added a direct to school initiative which provides a new driver of growth into 2022. We are excited to move forward as one organization and continue to partner with Chuck and the management team, helping Nerdy strengthen and grow its position in the industry.”
Goldman Sachs & Co. LLC acted as exclusive financial advisor to Nerdy. Deutsche Bank Securities Inc. acted as financial advisors, capital markets advisors, FPA and PIPE placement agents to TPG Pace Tech Opportunities. J.P. Morgan Securities LLC and Barclays Capital Inc. acted as capital markets advisors, FPA and PIPE placement agents to TPG Pace Tech Opportunities. Northland Capital Markets and Siebert Williams Shank acted as capital market advisors and FPA Placement Agents to TPG Pace Tech Opportunities. TPG Capital BD, LLC, Canaccord Genuity, JMP Securities LLC, Needham & Company and Raymond James & Associates, Inc., acted as capital market advisors to TPG Pace Tech Opportunities. Goodwin Procter LLP acted as the legal advisor to Nerdy and Vinson & Elkins L.L.P. acted as the legal advisor to TPG Pace Tech Opportunities.
Nerdy is a leading platform for live online learning, with a mission 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. Its solutions are available directly to students and consumers, as well as through schools and other institutions.
TPG is a leading global alternative asset firm founded in 1992 with $108 billion of assets under management and offices in Beijing, Fort Worth, Hong Kong, London, Luxembourg, Melbourne, Mumbai, New York, San Francisco, Seoul, Singapore, and Washington D.C. TPG's investment platforms are across a wide range of asset classes, including private equity, growth equity, impact investing, real estate, secondaries, and public equity. TPG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across the investment strategy and performance of its portfolio.
prnewswire | December 21, 2020
The plan to change a significant bit of the training framework online has been played with for quite a long time, as increasingly more online educational programs were gradually presented in colleges across the world. However, because of the pandemic and the social limitation that followed, online schooling, both from conventional and elective learning organizations, has become a pivotal piece of the training framework. For instance, online classes in Brown University have permitted understudies concentrating abroad and workforce directing examination outside of Providence to keep instructing at the University. "With the present standardization of online instruction, Brown can contact more crowds, including a bigger pool of pre-undergrads and graduate understudies, as the University had investigated before the pandemic," as per The Brown Daily Herald.
Other than the pandemic and its suggestions, the other main considerations driving the development of scholastic e-learning market size in the long haul are expanding advanced education e-Learning enlistments and the dispatch of new online degrees. Web based learning is likewise organized to save time and makes a few ways for vivid learning. Rather than being aloof, students can pick what they need to realize rapidly and effectively, from any place they are. What's more, as per information gave by Valuates Reports, the scholastic e-learning market size was esteemed at USD 103.8 Billion out of 2019 and is relied upon to develop CAGR 11.23% by 2025.
Meten EdtechX Education Group Ltd. (NASDAQ: METX) just declared breaking news with respect to a "solid recuperation of its lesser ELT business. Net billings and understudies enlistments of its lesser ELT business in October and November 2020 both surpassed the comparing period in 2019.
"The Company's junior ELT business continued to maintain its strong performance after the COVID-19 pandemic in China. From January to November 2020, the cumulative gross billings of the junior ELT business have recovered to approximately 76% of the same period in 2019. Moreover, the gross billings of junior ELT business in October and November increased by approximately 49% and 17%, respectively, compared to the same period last year, showing a positive step to profitability.
"The renewal and referral income from existing students accounted for approximately 60% of the gross billings, demonstrating the value of the junior ELT in terms of teaching quality, brand reputation and relatively low-cost customer acquisition channels. At the same time, the student enrollment has also recovered month by month with the gradual reopening of offline learning centers. The cumulative new student enrollment from January to November 2020 has recovered to approximately 71% of the same period last year, and the student enrollment in October and November 2020 has increased by approximately 46% and 24%, respectively, compared to the same period of last year. The overall expansion of student enrollment is in line with the Company's expectation.
"In addition to the continuous development of its existing business, the Company also plans to expand market coverage of its junior ELT business so as to explore the potentials or opportunities in the field of K-12 education service. Currently, the Company has launched Chinese and mathematics projects for the first time at its independent junior learning centers in Foshan, Guangdong Province, and Nanchang, Jiangxi Province, and these projects are progressing smoothly."