Duolingo Inc

Duolingo Inc., the operator of an online language learning platform, held a $ 520 million IPO with a valuation of over $ 3.4 billion.

According to Joseph Marc Blumenthal, the IPO was priced at $ 102 per share - above the announced price range of $ 95-100 per share. A total of 5.1 million shares were offered to investors, of which 3.7 million were sold by Duolingo itself and 1.4 million by its early shareholders.

 

In addition, the placement underwriters received a 30-day option to buy another 765,916 shares at the IPO price.

 

Duolingo shares will begin trading on the Nasdaq Global Select Market on Wednesday under the ticker DUOL.

 

Duolingo is the leading global online education platform offering a variety of courses in 40 languages. The number of active Duolingo customers is about 40 million, the number of downloads of the service's mobile application has already exceeded 500 million.

 

 

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