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Language Platform Duolingo Files For IPO On Nasdaq

Language learning platform Duolingo Inc. announced Monday that it has filed a registration statement relating to the proposed initial public offering of its Class A common stock. The company applied to list its shares on the Nasdaq big board under the ticker symbol “DUOL”.

The number of shares and share price have not been disclosed yet by the company. However, the company has reportedly been valued at US$2.4 billion following a recent US$35.0 million funding led by Durable Capital Partners and General Atlantic in November 2020.

The language app also relayed in the prospectus filed for its IPO that it recorded a US$55.4 million quarterly revenue for Q1 2021 while net losses are at US$13.5 million for the same period.

Duolingo’s Class A shares are worth one vote while Class B shares are worth 20 votes. Currently, the company’s biggest shareholders of the Class B shares include NewViewCapital (20.1%), Union Square Ventures (14.2%), Capital G (13.7%), Kleiner Perkins (10.5%), and General Atlantic (7.1%). The company’s co-founders, CEO Luis von Ahn and CTO Severin Hacker, also each own 14.8% of the Class B shares.

The proposed offering will be handled by Goldman Sachs and Allen & Company as lead bookrunners.

Duolingo offers a freemium business model of its language learning services, offering courses in 40 languages. The app has been downloaded more than 500 million times, with approximately 40 million active users.


Information for this briefing was found via Sedar and Duolingo. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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