Duolingo (DUOL) IPO Opens 39% Higher

July 28, 2021 12:15 PM EDT
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Price: $171.73 -9.32%

Overall Analyst Rating:
    NEUTRAL (= Flat)

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Today's IPO for Duolingo, Inc. (NASDAQ: DUOL) opened for trading at $141.40 after pricing the offering at $102. Duolingo is offering 3,700,000 shares of Class A common stock and the selling stockholders named in the prospectus are offering 1,406,113 shares of Class A common stock.

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

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.

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