Duolingo, the popular language-learning app founded in 2011, has filed for an initial public offering (IPO). The company reported revenues that increased 97% to $55.4 million for the first quarter of 2021. However, net losses came to $13.5 million. The company was valued at $2.4 billion after it raised $35 million in funding late last year. Duolingo said it has over 500 million global downloads to date and is the top-grossing language app on both the Google Play Store and the Apple App Store. It boasts some 40 million monthly active users and offers 38 languages for free.
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