Language learning service Duolingo is going public — riding the pandemic-enforced “gotta do something useful” productivity boom, to a ~$3 billion listing on the Nasdaq.
Quick look at the 2020 numbers:
- Revenues of $161.7 million, up 129% YoY
- Subscriptions form 73% of revenue
- 40 million monthly active users
- Lost $16 million in 2020 — otherwise, are you even fashionable
The platform offers 95 language learning courses, across 40+ languages, and is a favorite among a millennial and GenZ dense user base. Meanwhile, the boom in broad edtech services has also brought a big base of K-12 students looking to supplement their school curriculum.
Big picture — public markets have shown less enthusiasm for edtech than private markets (Coursera, 2U, Stride, have all been duds). Hope that changes with more options.