Written by Alberto Arenaza from Transcend Network.

<aside> 🦉 After reading through Duolingo's S-1, here are my takeaways for Duolingo's position, history and future. You can read more about more about it in the latest Transcend Newsletter issue.

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Duolingo S-1 Financials – Alberto Arenaza

Duolingo

Founded in 2009 by Luis von Ahn and Severin Hacker.

• 500 million learners registered, 40M monthly active users who complete 500 million exercises every day. There are more people learning certain languages on Duolingo, like Irish and Hawaiian, than there are native speakers of those languages worldwide.
• 106 different language courses in 40 languages
• Mission: to develop the best education in the world and make it universally available.
  • 400 employees (180+ engineers), aims to build the most sophisticated education platform in the world

• Duolingo is the leading global mobile learning platform, offering courses in 40 languages to approximately 40 million monthly active users

• With over 500 million downloads, our 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.

Market size

• $61 billion market for 1.8 billion learners: almost two billion people across the world are learning a new language, and in 2019, consumer spend on both online and offline language learning represented a $61 billion market, and will grow to $115 billion in 2025, implying a CAGR of 11% over this period.
• New users to market: Almost 80% of Duolingo users in the US were not already learning a language when they began using Duolingo
  • "We also believe that growth in online language learning spend will be driven by consumers who would not have paid for offline offerings, but now choose to purchase online products."