Founders Luiss von Ahn and Severin hacker. Country USA.
Duolingo (DUOL) owns one of the best mobile language learning apps that has been downloaded more than 500 million times. In the Education category it has the most profitable app on Google Play and the Apple App Store. It has about 49 million monthly active users of an engaging app.
Duolingo is a free language learning and crowdsourcing translation platform. The app works so that users can translate articles, documents, and information from websites as they go through the lessons.
The app’s subscription revenue grew to $58 million, up 45 percent, and bookings climbed 55 percent to $102 million while the number of subscribers also grew steadily, climbing 60 percent year over year to 2.9 million at the end of the first quarter.
Total bookings jumped 55% in the last quarter to $102 million, while revenue from subscriptions increased 45% to $58 million. The Duolingo app had 2.9 million subscribers at the end of the first quarter, up 60% from the previous year.
Duolingo has a huge amount of data, using which to build models of artificial intelligence, using cognitive science and neuro-linguistic programming, such as the so-called student model BirdBrain, able to adapt exercises for each user depending on his skills at the moment. That attracts a lot of users in this application, and therefore the income grows.
Prospects for the company growth are good, as it continues to expand its product and make various improvements, simultaneously expanding its capabilities internationally.
At the moment, the company’s shares are traded at 94.32, showing a decline of 12% on Monday, however, the decline is recorded across the stock market due to counter-inflationary winds.
By TradingView
At the same time, analysts suggest that the decline in the value of the shares should only be considered as a natural cycle of events, as the stock exceeded its target price the day before.
Market value: $3.8 billion.
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