Duolingo files for IPO

Anne Freer | July 1, 2021

App Deals

Duolingo, the popular language-learning app founded in 2011, has filed for an initial public offering (IPO).

The company reported revenues that increased 97% to $55.4 million for the first quarter of 2021.

However, net losses came to $13.5 million.

The company was valued at $2.4 billion after it raised $35 million in funding late last year.

Duolingo said it has over 500 million global downloads to date and is the top-grossing language app on both the Google Play Store and the Apple App Store.

It boasts some 40 million monthly active users and offers 38 languages for free.

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