1/5/2024 0 Comments Duolingo stockHe created this freemium-model language tool. He noticed what it cost people in his community to learn English in the United States and set off to provide a more affordable, efficient solution. Luis von Ahn, a Carnegie Melon Professor, started the project, inspired by his Guatemalan upbringing. Founded in 2009, the American company offers 106 courses in 38 languages and now has over 300 million registered users. What Is Duolingo?ĭuolingo offers language-learning tools via a website and mobile app. Let's talk about why Robinhood investors should be all over this one today. It will trade on the Nasdaq under the ticker DUOL. Securities and Exchange Commission on Monday, June 28. Now, the playing field is a tad more level, and a Duolingo IPO is just the kind of event Robinhood IPO Access was made for.ĭuolingo filed its prospectus with the U.S. Normally, retail investors would have to wait for the stock to hit the exchange, which often meant the stock price would already be inflated once institutional demand pumped the price. (NYSE FIGS) went from a $22 IPO price to $47 today. The first (and most recent) IPO stock to go through Robinhood is up more than 100% since the offering. Robinhood, a five-time Disruptor 50 company that topped the 2021 list, is slated to begin trading Thursday on the Nasdaq.And you will probably want to throw your name in the hat for Duolingo stock. Nine CNBC Disruptor 50 companies have become publicly listed since the 2021 list was revealed just two months ago, including SoFi, 23andMe and SentinelOne. The IPO boom also coincides with the rising force of retail investors who are eager to own a piece of their favorite companies.Ī total of 250 IPOs have priced in 2021, up 191% from the same period last year and already beating 2020′s total number of IPOs at 218, according to Renaissance Capital. For the year-to-date period, the market is already at a record level in terms of funds raised, and it is expected to surpass the full-year all-time high of $97 billion raised in 2000 amid the dot-com boom, according to Renaissance.Ĭompanies from stay-at-home tech to health-care innovators to e-commerce players are taking advantage of a booming stock market that keeps refreshing its record on the back of optimism toward the economic reopening. IPOs have reached $89 billion in 2021, a 232% jump from the same period last year, according to data from Renaissance Capital. The app is free from ads and features more than 300 short lessons that teach basic reading and writing skills. The company originally planned to unveil the app later this year, but due to the coronavirus pandemic decided to release it early to help parents working remotely and homeschooling their children. Last year the company launched Duolingo ABC, a free English literacy app for children ages 3 to 6. Von Ahn also said that this part of the business currently accounts for 9% of revenue and he expects that figure to continue growing. "During the pandemic we got a lot of institutions accepting our tests," he added, claiming that 17 of the top 20 universities, including Stanford, accept Duolingo's online test as proof of English proficiency for international students. "If you live in the United States you may not know about this, but worldwide billions of dollars are spent by people having to take tests to prove that they know English," von Ahn said. In addition to its core platform, the company created the Duolingo English Test, a language certification option accepted by more than 2,000 universities and institutions worldwide. "We make the majority of our revenue through subscriptions." "We're the most popular way to learn languages in the world," co-founder and CEO Luis von Ahn said on CNBC's " TechCheck" Wednesday morning before shares started trading. Von Ahn was one of the developers behind the invention of CAPTCHA and ReCAPTCHA, which are used to distinguish humans from machines. What many don't know is that the world's most popular education app began as a computer science project for co-founders Severin Hacker and Luis von Ahn, teaching people foreign languages while trying to simultaneously translate the entire internet. The company brought in $55.4 million in revenue for the quarter ended March 31 - a 97% jump from last year - while net losses widened more than six-fold to $13.5 million, according to the filing.ĭuolingo offers 95 courses across 40 distinct languages - from the world's most spoken, such as Spanish, French and Italian, to endangered languages like Hawaiian, Navajo and Scottish Gaelic. In its IPO prospectus, the Pittsburgh-based company disclosed annualized revenue growth of 129% last year to $161.7 million. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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