- Language-learning app maker Duolingo Inc DUOL is aiming for a $3.41 billion U.S. initial public offering to tap the pandemic-driven growing demand for online education tools, Reuters reports.
- It plans to raise over $485 million by offering 5.1 million shares between $85 -$95 per share.
- The valuation could stretch to $4.38 billion on a fully diluted basis.
- Duolingo has 40 million monthly active users learning 40 languages, including Irish and Hawaiian.
- It plans to start trading on the Nasdaq under the symbol "DUOL."
- Goldman Sachs & Co and Allen & Company are the lead underwriters for the IPO.
- With over 500 million downloads, its app is the top-grosser in the education category on both Alphabet Inc's GOOG GOOGL Google Play, and Apple Inc's AAPL App Store.
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