Course Hero, edtech unicorn last valued at $3.6 billion, conducts layoffs
By Editor - Thu Mar 16, 12:35 pm
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Course Hero, a tutoring business last valued by investors at $3.6 billion, has cut 15% of staff, or 42 people – its first round of layoffs in 17 years, TechCrunch has learned from numerous sources. The workforce reduction comes after Course Hero itself, a rare edtech unicorn, saw co-founder Andrew Grauer leave his post as chief executive four months ago. He was succeeded by John Peacock , who was formerly the VP of product at the company. The layoff appears to be one of the new CEO’s first significant changes to the business since taking over. Peacock sent an email to staff this week explaining the changes. “This is the first time in Course Hero’s 17 years that we have done a layoff of this size, and it’s not a decision we made lightly,” the email, obtained by TechCrunch, reads. “It follows careful deliberation with the leadership team about the moment we’re in.” He went on to say that the layoff was done to meet the needs of the “rapidly evolving” sector and that it was “absolutely necessary” for the future of the company. Launched in 2006, Course Hero was somewhat allergic to venture capital until recent.
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Course Hero, edtech unicorn last valued at $3.6 billion, conducts layoffs
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