| Market Capitalization (Millions $) |
7,268 |
| Shares
Outstanding (Millions) |
49 |
| Employees |
900 |
| Revenues (TTM) (Millions $) |
1,098 |
| Net Income (TTM) (Millions $) |
422 |
| Cash Flow (TTM) (Millions $) |
255 |
| Capital Exp. (TTM) (Millions $) |
17 |
Business Description
Our objective is to provide the greatest education in the world and make it available to everyone.
Although education can open the door to economic opportunity, it is also one of the primary drivers of inequality: the affluent can receive the greatest education available, while others with fewer means, particularly in developing nations, may be unable to obtain even basic schooling. Thats why we founded Duolingo. We think that everyone, regardless of income, should have access to a high-quality education. And, for the first time in history, the technology required to make this possible is in the hands of billions of people in the shape of a smartphone. Duolingo creates smartphone-native products that are bite-sized, on-demand, and entertaining.
Our flagship app has organically become the world's most popular way to learn languages and the top-grossing Education app in the App Stores. For many, Duolingo has become synonymous with language learning: for example, on Google, people search the term 'Duolingo' approximately seven times more often than 'learn Spanish.' We are particularly proud that our learners come from the entire socioeconomic spectrum, ranging from billionaires and celebrities to recently resettled refugees, a rare instance in which more money does not imply better access to a high quality educational platform.
Duolingo is the learning product built for the mobile generation: bite-sized, on-demand and fun. We believe that the hardest part of learning something new is staying motivated, so we build gamification features into our platform to motivate our learners, and we run thousands of A/B tests to optimize each feature for maximum engagement. Our obsession with user experience has yielded affinity and loyalty in our learners, which in turn has helped us cultivate millions of brand advocates who tell their friends and families about our products. Our brand has become part of pop culture, appearing in internet memes and in sketches on late night comedy shows. As an example, #duolingo on TikTok has approximately half a billion views, and our official account has been highlighted by numerous press outlets. All of this has allowed us to grow our business organically, primarily relying on word-of-mouth virality rather than paid user acquisition.
We intentionally do not put our learning content behind a paywall. Anyone can download the Duolingo app, use it for as long as they like, and complete as many of our courses as they choose, all without paying anything. Learners who use Duolingo for free see an ad at the end of each lesson, whereas learners who purchase Duolingo Plus, our premium subscription, enjoy an ad-free experience and access to additional features.
Our freemium business model, which means allowing users to access our content for free and charging a subscription for additional features, is core to our success because it enables significant user scale. Our growth and competitive differentiation have been driven by two mutually-reinforcing flywheels: our learning flywheel and our investment flywheel.
Learning flywheel: The greater the scale of our learner base, the more we can use insights from data analytics to improve both engagement and efficacy. The more engaging our products are, and the more effectively we teach, the more our learners tell their friends about Duolingo and the more we continue to grow our learner base.
Investment flywheel: Our learner scale and word-of-mouth growth allow us to focus our capital investments on product innovation and data analytics, as opposed to brand or performance marketing. The more learners use Duolingo and convert into paid subscribers, the more we are able to invest in creating an even more delightful, engaging and effective learning experience. In turn, this increases our popularity and user scale, as well as the effectiveness of our data analytics, further widening our competitive moat.
Company Address: 5900 Penn Avenue Pittsburgh 15206 PA
Company Phone Number: 567-6602 Stock Exchange / Ticker: NASDAQ DUOL
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2.1% 
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