- Language learning app Duolingo, Inc DUOL is working on a music app.
- Duolingo currently has a small team working on a music product and is hiring a learning scientist who is an “expert in music education who combines both theoretical knowledge of relevant learning science research and hands-on teaching experience,” according to a job posting, TechCrunch reports.
- Duolingo also posted a job soliciting a freelance music composition and curricular consultant.
- The job listing indicates it will teach basic concepts in music theory by tapping popular songs and teachers.
- Duolingo has slowly evolved beyond language learning into several auxiliary new projects like the Duolingo English Test, Duolingo English Test, and Duolingo Math that may represent significant revenue streams.
- Language, math, and music in Duolingo all require users to know the basics as it focuses on building blocks, instead of specific mastery, as a way to learn a skill.
- Duolingo chief business officer Bob Meese is an investor in Trala, a tech company that offers virtual violin lessons.
- In February, Duolingo reported quarterly losses of 35 cents per share, which beat the consensus estimate of a loss of 53 cents by 33.96 percent. The company also reported quarterly sales of $103.82 million, beating the consensus estimate of $99.89 million. This sales figure is a 42.2% percent increase over sales of $73.01 million in the same period last year.
- Price Action: DUOL shares are trading lower by 2.39% at $126.32 premarket on the last check Tuesday.
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