Duolingo enters 'major leagues' with $6.5 billion valuation in strong debut


FILE PHOTO: Smartphone with displayed Duolingo app is placed on the keyboard in this illustration taken, June 29, 2021. REUTERS/Dado Ruvic/Illustration

(Reuters) -Language learning app Duolingo Inc notched a valuation of $6.5 billion after its shares surged nearly 40% in the company's Nasdaq debut on Wednesday, becoming the latest education technology startup to impress Wall Street.

Duolingo's stock opened at $141.4 per share, blowing past the initial public offering price (IPO) of $102 per share, which crossed the top end of its target range. The stock later pared some gains to trade at $130.92 in the afternoon.

Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Tech News

US regulators plan to investigate Microsoft's cloud business, FT reports
Hate speech watchdog CCDH to quit Musk's X ahead of terms change
TikTok launches AI-powered video platform to advertisers globally
Google brings AI voice assistant Gemini Live to iPhone
US regulator looks to put Google under federal supervision, Washington Post says
Fibre optic cables should be considered 'critical infrastructure' in Africa, Google says
EU fines Meta 797 million euros over abusive practices benefiting Facebook Marketplace
ASML CEO says AI boom benefits the company
Spain's La Vanguardia joins the Guardian in leaving X, citing 'toxic content'
Analysis-Crypto industry pushes for policy sea change after Trump victory

Others Also Read