Duolingo, Inc.

General Information

Duolingo is the leading mobile learning platform globally. With over 500 million downloads, our flagship 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. For many, Duolingo has become synonymous with language learning: for example, on Google, people search the term “Duolingo” nine times more often than “learn Spanish.” We are particularly proud that our learners come from the entire socioeconomic spectrum, ranging from billionaires and celebrities to recently resettled refugees, a rare instance in which more money does not imply better access to a high quality educational platform.

Duolingo is a technology company founded by two engineers, Luis von Ahn and Severin Hacker. Luis and Severin met at Carnegie Mellon University, where Luis was a professor in the Computer Science Department and Severin was his Ph.D. student. Luis, a MacArthur Fellow, grew up in Guatemala and witnessed firsthand the tremendous impact that access to high quality education can have on people’s lives. Luis and Severin bonded over the dream of building an intelligent learning system informed by massive amounts of user engagement data that could deliver superior learning outcomes.
(Note: Duolingo priced its IPO on July 27, 2021, at $102 – above the top of its increased price range of $95 to $100 – on about 5.11 million shares to raise $520.8 million. On July 26, 2021, Duolingo increased its price range to $95 to $100 – up from $85 to $95 – and kept the number of shares at 5.11 million – in an S-1/A filing. Of the 5,106,113 shares in the IPO, Duolingo is offering 3.7 million shares and selling stockholders are offering 1,406,113 shares. Duolingo will not receive any proceeds from the sale of the selling stockholders’ shares.) 
Employees: 400
Founded: 2011
Contact Information
Address 5900 Penn Avenue Pittsburgh, Pennsylvania 15206
Phone Number (412) 567-6602
Web Address http://www.duolingo.com/
View Prospectus: Duolingo, Inc.
Financial Information
Market Cap $3230.1mil
Revenues $188.95 mil (last 12 months)
Net Income $-27.02 mil (last 12 months)
IPO Profile
Symbol DUOL
Exchange NASDAQ
Shares (millions): 5.1
Price range $102.00 - $102.00
Est. $ Volume $520.8 mil
Manager / Joint Managers Goldman Sachs/ Allen & Co.
CO-Managers BofA Securities/ Barclays/ Evercore/ William Blair/ KeyBanc Capital Markets/ JMP Securities/ Piper Sandler/ Raymond James
Expected To Trade: 7/28/2021
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
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