Duolingo valued at $470 million after new $45 million investment round
Duolingo, the free app that helps you quickly learn a new language, has announced that they’ve received a new round of investor funding led by Google Capital. This round ended up at around $45 million, bringing the company’s total funds raised to $83.3 million. Duolingo says its valuation now sits at around $470 million.
The service has more than 100 million global users, and Duolingo claims that more people are using its app to learn new languages than the entire US public school system. That’s a pretty impressive feat.
During the announcement, Duolingo didn’t announce how they were planning on scaling their business to actually begin turning a profit. A spokesperson did say that the company sees itself as more of an educational tool than a business, however, and bringing an easy way for people to educate themselves and learn a new language was their primary goal right now.
Duolingo is frequently featured in Google’s top picks section of the Play Store. Have any of you had an experience with the service?
source: TechCrunch
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