Language Learning App Duolingo Could Be Valued Over $4.6B Based On Upsized IPO: Reuters

Duolingo Inc DUOL proposed to sell 5.1 million shares at between $95 - $100 each in its upsized U.S. initial public offering, Reuters reports. The hike reflects a higher investor appetite.
It can rake maximum gross proceeds of $511 million at over $4.6 billion valuation.
The previous price range was $85 - $95 per share.
The selling shareholder will sell 1.4 million shares. The company will not receive any proceeds from the selling shareholders.
The language learning company aims to list on Nasdaq under the symbol "DUOL."
It has 40 million monthly active users learning 40 languages, including Irish and Hawaiian.