Wyzant acquires Tutorspree
Wyzant has acquired a company that was spun out of the Y Combinator startup accelerator called Tutorspree. Tutorspree’s website now redirects to Wyzant. Tutorspree’s goal was to find a better way for students to find private tutors. Tutorspree created an algorithm that matched students with teachers based on location, background, and preferences.
Tutorspree hired over 7,000 tutors across the U.S., grew to 10 employees, raised $1.8 million, and then shut down six months later. Aaron Harris, Josh Abrams and Ryan Bednar shut down Tutorspree and returned the remaining capital to investors due to intense competition from rivals.
Interestingly, Tutorspree is getting a second life because one of their rivals, Wyzant, is acquiring the company’s assets for an undisclosed amount. Tutorspree’s tutors and students will likely be absorbed by Wyzant as part of the asset purchase.
WyzAnt is a tutor giant. The company works with over 500,000 tutors and provides service to over 1 million students. Wyzant hit over $100 million in gross sales to date.