Paper looks to rebound from turbulent 2024 with new CEO Martina Tam
Whirlwind year saw mass layoffs of all Canadian tutors and departure of both co-founders.
Embattled edtech startup Paper has appointed Silicon Valley edtech veteran Martina Tam as CEO following a whirlwind 2024.
“The market has changed, and so must Paper.”
Rich Yang
Paper
Tam brings experience from various San Francisco-based tech companies, including early education platform Brightwheel where she served as the chief operating officer and interim chief growth officer. She also worked as the vice president of marketing at video teaching platform Masterclass and a senior director at event planning platform Eventbrite.
“Martina has scaled businesses, launched impactful solutions for customers, and delivered outstanding results—all driven by her deep commitment to making a meaningful impact,” Paper Chairman and interim CEO Rich Yang said in a blog post announcing the appointment.
Founded in 2014 to provide accessible, 24/7 tutoring and homework support to help students from any background, Paper saw rapid expansion after the COVID-19 pandemic, securing $343 million CAD ($270 million USD) in Series D capital in 2022.
However, turbulence hit Paper in 2023 when the company laid off staff in three separate waves shortly after acquiring Readlee and MajorClarity.
The turbulence led to leadership turnover in 2024. Paper co-founder Phil Cutler was out as CEO, replaced by Yang in an interim capacity. Yang has transitioned to the executive chairman role now that the company has a permanent CEO.
During his tenure, Yang made dramatic changes to the structure of the edtech company, cutting 45 percent of its approximately 180 head office employees and laying off its entire Canadian tutor workforce in late August. Yang said at the time that focusing on the United States market would give the company a chance to rebuild its operations and improve its financial situation.
Based on her LinkedIn profile, Tam appears to be based in the United States. BetaKit has asked Paper if Tam will relocate to Canada or operate the company remotely from the United States but did not hear back by press time.
RELATED: Paper co-founder Roberto Cipriani steps down from day-to-day role
The mass layoff incensed the Canadian Office and Professional Employees Union (COPE) and its Québec branch (SEPB-Québec), who threatened legal action against Paper for terminating the employees they had recently gained accreditation to represent.
Just a few weeks later, Paper CTO, COO, and other co-founder Roberto Cipriani stepped down from his day-to-day role in September 2024. In an internal email, Cipriani said he was instead focusing his efforts as a board member and advisor to the company.
After an eventful 2024, Yang said in the blog post announcing Tam’s appointment that he has stabilized the company, built a foundation for future growth, and launched Paper’s new digital tutoring program GROW.
“Beginning on my first day, I’ve repeatedly shared that post-COVID, the market has changed, and so must Paper,” Yang said.
“With Martina at the helm and our team’s continued, unwavering commitment, my conviction has never been stronger that Paper’s best days are ahead,” Yang added.
Feature image courtesy Reforge.
