Language Learning App Duolingo Could Be Valued Over $4.6B Based On Upsized IPO: Reuters

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  • Duolingo Inc DUOL proposed to sell 5.1 million shares at between $95 - $100 each in its upsized U.S. initial public offering, Reuters reports. The hike reflects a higher investor appetite.
  • It can rake maximum gross proceeds of $511 million at over $4.6 billion valuation.
  • The previous price range was $85 - $95 per share.
  • The selling shareholder will sell 1.4 million shares. The company will not receive any proceeds from the selling shareholders.
  • The language learning company aims to list on Nasdaq under the symbol "DUOL."
  • It has 40 million monthly active users learning 40 languages, including Irish and Hawaiian.
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