Skip to main content

Slashdot: Duolingo Reaches $6.5 Billion Valuation On Day of IPO

Duolingo Reaches $6.5 Billion Valuation On Day of IPO
Published on July 31, 2021 at 04:10AM
On Wednesday, language learning app Duolingo reached a valuation of $6.5 billion after its shares surged nearly 40% in the company's Nasdaq debut. Reuters reports: Duolingo's stock opened at $141.4 per share, blowing past the initial public offering price (IPO) of $102 per share, which crossed the top end of its target range. The stock later pared some gains to trade at $130.92 in the afternoon. The company's flotation comes at a time of increased investor interest in the edtech space, after pandemic restrictions sent students and teachers from the classroom to the web. "Being a public company will allow us to operate at a higher level, and get going from the minor leagues to the major leagues," said Luis von Ahn, co-founder and chief executive officer of Duolingo. Following the IPO, the company will focus on improving its flagship app and getting more active users to switch to paying subscribers, von Ahn said. Duolingo offers courses in 40 languages to about 40 million monthly active users. The company also plans to expand more in Asia, its fastest growing region. Currently, Duolingo's largest market is the United States, home to 20% of its users and bringing in 45% of the company's revenue, von Ahn said.

Read more of this story at Slashdot.

Labels:

Comments

Post a Comment

Popular posts from this blog

Slashdot: Spain-Backed Fund Joins FOSSA's Sovereign Satellite Communications Push

Spain-Backed Fund Joins FOSSA's Sovereign Satellite Communications Push Published on 2026-06-28T22:05:00Z Spanish startup FOSSA Systems "has raised about $10.5 million to expand its connectivity constellation," reports Space News, noting some funding is backed by Spain's government: The support from the Spanish Society for Technological Transformation (SETT) comes a year after the fund injected 14 million euros into Spain's Sateliot , which is also developing a satellite connectivity network with security and defense applications. Spanish private investment firm Kibo Ventures led FOSSA's funding round, the six-year-old venture announced June 24, bringing its total raised to date to nearly 20 million euros. The proceeds will help fuel FOSSA's push beyond the tiny picosatellites it once used to connect low-power monitoring devices toward larger cubesats in low Earth orbit, enabling additional sovereign communications and space-based intelligence capab...
Post a Comment
Read more

Slashdot: AT&T Outlines $250 Billion US Investment Plan To Boost Infrastructure In AI Age

AT&T Outlines $250 Billion US Investment Plan To Boost Infrastructure In AI Age Published on 2026-03-10T20:00:00Z AT&T plans to invest more than $250 billion over the next five years to expand U.S. telecom infrastructure for the AI age. The company says it will also hire thousands of technicians while partnering with AST SpaceMobile to extend coverage to remote areas. Reuters reports: Rapid adoption of artificial intelligence, cloud computing and connected devices has prompted telecom operators to invest heavily in fiber and 5G networks as they also seek to fend off intensifying competition from cable broadband providers. AT&T, which has about 110,000 employees in the U.S., said the new hires will help build and maintain its infrastructure. The outlay includes capital expenditure and other spending, the company said. The spending will focus on expanding its fiber and wireless networks, including accelerating deployment of fiber broadband, 5G home internet and satellite co...
Post a Comment
Read more