Leading Language Platform, Duolingo files for IPO

photo of children learning
Duolingo files for IPO

Duolingo, Inc., the world's leading language learning platform, announces an initial public offering registration statement with the U.S. Securities and Exchange Commission offering its Class A common stock.

The company plans to trade on Nasdaq Global Select Market under the ticker symbol "DUOL." The price range for the proposed offering and the number of shares offered remains unannounced. Duolingo has reported revenues of $55.4M and adjusted EBITDA of $0.9M. Moreover, around 72% of revenue came from Duolingo Plus subscriptions. Duolingo values at approximately $2.4B.Their total assets hit $176.9M, with $117.5M in cash and cash equivalents as of March 31, 2021.

Goldman Sachs and Allen & Co. are managing the IPO. BofA Securities, Barclays Capital Inc., Evercore Group L.L.C. and ...

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