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Mobile Learning Platform Provider DUOLINGO Files for $100 Million US IPO

Esther Thin

Duolingo Inc, a mobile learning platform provider, has filed Form S-1 Registration Statement on June 28, 2021 with the U.S. Securities and Exchange Commission to raise up to $100 million IPO. Pricing terms are yet to announce.

The company is a technology company founded by two engineers, Luis von Ahn and Severin Hacker. Their mobile app has organically become the world’s most popular way to learn languages and the top-grossing app in the Education category on both Google Play and the Apple App Store.

The Pittsburgh, Pennsylvania-based company was founded in 2011 and booked $189 million in revenue for the 12 months ended March 31, 2021. It plans to list on the Nasdaq Global Select Market under the symbol “DUOL.” Goldman Sachs, Allen & Company, BofA Securities, Barclays, Evercore ISI, and William Blair are underwriters of the IPO.

The company engages Latham & Watkins LLP as US Securities Counsel, and Deloitte & Touche LLP as Independent Auditor.

#ipo #nasdaq #learning #platform #mobileapp #duolingo      




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