Duolingo Files Registration Statement for Proposed Initial Public Offering

Rhea-AI Summary

Duolingo has filed a registration statement with the U.S. SEC for an initial public offering (IPO) of its Class A common stock, with details on share numbers and pricing pending. The company plans to list on the Nasdaq under the ticker 'DUOL.' Goldman Sachs and Allen & Company are leading the offering, supported by several other financial institutions. Duolingo, a top mobile language learning platform with around 40 million monthly active users and 500 million downloads, emphasizes its commitment to providing an engaging and effective educational experience.

Positive

• Strong user base with approximately 40 million monthly active users.
• Company's app is the top-grossing in the Education category on major app stores.
• The IPO could provide substantial capital for further growth initiatives.

Negative

• Details on share numbers and pricing are not yet determined, creating uncertainty.
• Potential market dilution associated with the IPO offering.

PITTSBURGH, June 28, 2021 /PRNewswire/ -- Duolingo, Inc. ("Duolingo"), the world's leading mobile language learning platform, announced today that it has publicly filed a registration statement with the U.S. Securities and Exchange Commission relating to the proposed initial public offering of its Class A common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined. Duolingo has applied to list its Class A common stock on the Nasdaq Global Select Market under the ticker symbol "DUOL."

Goldman Sachs & Co. LLC and Allen & Company LLC will act as lead bookrunners, BofA Securities, Barclays Capital Inc., Evercore Group L.L.C. and William Blair & Company, L.L.C.  will act as additional bookrunners and KeyBanc Capital Markets Inc., JMP Securities LLC, Piper Sandler & Co., and Raymond James & Associates, Inc. will act as co-managers for the proposed offering.

The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus, when available, may be obtained from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by telephone at 1-866-471-2526 or by email at prospectus-ny@ny.email.gs.com; and Allen & Company LLC, Attention: Prospectus Department, 711 Fifth Avenue, 10th Floor, New York, New York 10022, by telephone at 212-339-2696 or by email at allenprospectus@allenco.com.

A registration statement on Form S-1 relating to these securities has been filed with the U.S. Securities and Exchange Commission, but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Duolingo
Duolingo is the leading mobile learning platform globally, offering courses in 40 languages to approximately 40 million monthly active users. With over 500 million downloads, its flagship app has organically become the world's most popular way to learn languages and the top-grossing app in the Education category on both Google Play and the Apple App Store. With technology at the core of everything it does, Duolingo has consistently invested to provide learners a fun, engaging, and effective learning experience while remaining committed to its mission to develop the best education in the world and make it universally available.

View original content:https://www.prnewswire.com/news-releases/duolingo-files-registration-statement-for-proposed-initial-public-offering-301321399.html

SOURCE Duolingo

FAQ

What is Duolingo's IPO date and details?

Duolingo has filed for an IPO but has not yet set a specific date or established share pricing details.

What is the ticker symbol for Duolingo?

Duolingo plans to list its Class A common stock on the Nasdaq under the ticker symbol 'DUOL.'

Who are the underwriters for Duolingo's IPO?

Goldman Sachs and Allen & Company are leading the underwriting for Duolingo's IPO, along with other firms.

How many users does Duolingo have?

Duolingo has around 40 million monthly active users.

What is the significance of Duolingo's IPO?

The IPO could provide Duolingo with significant capital for growth and expansion in the education technology sector.