Duolingo raises price range for upcoming US IPO

Language learning app Duolingo announced today that it has raised the price range for its upcoming initial public offering in the United States. 

The Pennsylvania-based company filed for IPO late last month and previously said that it would sell shares at a price range of $85-$95 per share. 

The company has now updated its price range and said it will now sell 5.1 million of its shares between $95 and $100 each, which could be a clear indication that there’s a high demand among investors. 

The upcoming US IPO is expected to increase the company’s value to more than $4.6 billion. 

Founded in 2011 by Luis von Ahn and Severin Hacker, Duolingo is now one of the most popular language-learning apps with over 500 million downloads and 40 million monthly active users.

It’s currently the top grossing app in the Education category on both the App Store and Google Play Store.

Also Read: Duolingo Revenue and Usage Statistics

The IPO will be led by Goldman Sachs & Co and Allen & Company and Duolingo plans to list on the Nasdaq exchange under the ticker symbol ‘DUOL’.