Robinhood Opening Up Duolingo (DUOL) IPO for Retail Investors

Robinhood continues its aggressive move to give its hoards of retail clients access to new IPOs. Today, Robinhood is allowing investors to get access to the Duolingo IPO, which was filed yesterday afternoon.

Duolingo is planning to list on the NASDAQ under the ticker "DUOL." No pricing information was made available yet, although the company plans to sell $100 million in common stock in the offering.

Duolingo is a technology company that develops apps for learning new languages. The company's app has been downloaded over 500 million times. Duolingo offers courses in 40 languages to approximately 40 million monthly active users.

The company has shown impressive revenue growth. Revenue was $28.1 million in the three months ended March 31, 2020 and $55.4 million in the three months ended March 31, 2021, representing 97% period-over-period growth. However, the company is still reporting a net loss.

Robinhood opened up IPO access in May with medical scrub maker Figs (NYSE: FIGS), which saw its stock jump in its stock market debut.

Last week, Robinhood opened up the upcoming CLEAR Secure (NYSE: YOU) IPO for investors. The YOU IPO is expected this week.

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