CMU-founded language learning platform developer Duolingo was valued at $2.4bn as of its last funding round in November 2020.
Duolingo, a US-based language learning app developer spun out of Carnegie Mellon University, filed for an initial public offering yesterday.
The offering is slated to take place on the Nasdaq Global Select Market and the company has set a $100m placeholder target.
Duolingo has developed a mobile app with 40 million monthly active users that helps them learn any one of up to 40 languages. It was founded in 2009 and made a $15.8m net loss during 2020 while more than doubling revenue to almost $162m.
The company had raised a total of $183m as of November 2020, when it secured $35m from investment management firm Durable Capital Partners and growth equity firm General Atlantic at a $2.4bn valuation, with Union Square Ventures (USV) selling shares through the deal.
Technology conglomerate Alphabet’s CapitalG unit had supplied $30m in series F funding for Duolingo…
