{"id":68549,"date":"2021-07-20T00:18:19","date_gmt":"2021-07-19T22:18:19","guid":{"rendered":"https:\/\/www.csregypt.com\/?p=68549"},"modified":"2021-07-20T00:18:19","modified_gmt":"2021-07-19T22:18:19","slug":"duolingo-eyes-over-3-bln-valuation-in-u-s-ipo-as-online-learning-booms","status":"publish","type":"post","link":"https:\/\/csregypt.com\/en\/duolingo-eyes-over-3-bln-valuation-in-u-s-ipo-as-online-learning-booms\/","title":{"rendered":"Duolingo eyes over $3 bln valuation in U.S. IPO as online learning booms"},"content":{"rendered":"

Duolingo Inc said on Monday it aims to be valued as much as $3.41 billion in its U.S. initial public offering, as the language-learning app maker seeks to cash in on rapidly rising interest for online education tools during the COVID-19 pandemic.<\/p>\n

About 5.1 million shares will be offered in the IPO, priced between $85 and $95 each, which would rake in more than $485 million at the top end of that range.<\/p>\n

On a fully diluted basis, which includes securities such as stock options and restricted stock units, Duolingo would be valued at $4.38 billion at the maximum price.<\/p>\n

Nearly 1.4 million shares will be offered by the selling stockholders, proceeds from which will not go to the company.<\/p>\n

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Duolingo has about 40 million monthly active users learning 40 languages, including Irish and Hawaiian, for which the company claims there are more online learners than there are native speakers.<\/div>\n<\/div>\n<\/div>\n<\/div>\n

The Pittsburgh-based company said earlier it had more than doubled its revenue in the first quarter this year, with 72% of it generated from subscriptions and nearly 17% from advertising.<\/p>\n

With more than 500 million downloads, its app is the top-grosser in the education category on both Google Play and Apple’s App Store.<\/p>\n

The company was founded in 2011 by Luis von Ahn and Severin Hacker, who met at Carnegie Mellon University when von Ahn was a computer science professor and Hacker, his doctoral student.<\/p>\n

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Duolingo was valued at $2.4 billion after an investment from Durable Capital Partners and General Atlantic in November.<\/div>\n<\/div>\n<\/div>\n<\/div>\n

Goldman Sachs & Co and Allen & Company are the lead underwriters for the IPO. The company plans to start trading on the Nasdaq under the symbol “DUOL”.<\/p>\n","protected":false},"excerpt":{"rendered":"

Duolingo Inc said on Monday it aims to be valued as much as $3.41 billion in its U.S. initial public offering, as the language-learning app maker seeks to cash in on rapidly rising interest for online education tools during the COVID-19 pandemic. 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