Any mention of learning in 2020 and 2021 has to include the effects of Covid-19 on educational systems and norms. How has Nerdy been impacted by these changes? Like most companies, Covid-19 created some short-term challenges for our business. During remote learning, many schools went to relaxed grading structures and standardized testing locations struggled to stay open or had to reduce their capacity to administer tests. This impact actually suppressed demand for our products in the short term.
The result was a significant acceleration in our growth in the second half of the year. We always knew that the direct-to-consumer learning model was ripe for disruption, and that online learning platforms like Nerdy deliver better, more efficient experiences. Our online revenue growth has been consistently very strong and we’ve focused on scaling this segment of the business given that it both provides a better customer experience and is far more efficient.
Looking forward, we’re advancing multiple proven growth vectors in our business. We’re investing to evolve and innovate on our product to deliver experiences that are changing the way people learn online. We’re extending the reach of the platform through subject expansion. Today, we serve audiences across the learning lifecycle, from kindergartners through professionals, but there are still thousands of subjects where we can expand our offering to deliver on more learning needs.
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Too bad nerdy can't revolutionize Forbes' social media page to not be irrelevant.
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La source: Forbes - 🏆 394. / 53 Lire la suite »