Duolingo is experiencing significant success and aims to expand into general education system
From Nasdaq: 2024-08-07 11:37:00
Duolingo, a language-learning company, is experiencing significant success with its mobile app ranking as the third most popular in education on Apple’s App Store and the top in the same category on Alphabet’s Android Play Store. The company nearly tripled its annual revenue in three years, with a last four quarters cash-based profit margin of 33%.
Duolingo’s ambitious mission involves expanding its language learning platform to include a general education system covering subjects like history and sciences. With a focus on offering accessible and useful education globally, the company aims to tap into the growing online learning market that is projected to reach close to $279 billion by 2029.
Founded by MacArthur-certified genius Luis von Ahn, Duolingo has the potential to become a global phenomenon much like Netflix did in the past. With a strong focus on innovation and gamified learning experiences, Duolingo is poised to thrive in the rapidly expanding online learning market. The company’s growth potential is drawing parallels to the early days of Netflix and Alphabet.
For investors looking to capitalize on Duolingo’s growth potential, the company’s long-term vision, innovative approach to education, and solid financial performance make it an attractive investment opportunity. While it may not reach the same levels of success as its mentors like Netflix and Alphabet, Duolingo’s commitment to providing quality education globally should generate shareholder value in the future.
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Disclosure: The author may hold positions in Alphabet, Duolingo, and Netflix. The Motley Fool has positions in and recommends Alphabet, Apple, Duolingo, and Netflix. Suzanne Frey, an executive at Alphabet, is a board member of The Motley Fool. The opinions expressed in the article are those of the author and not necessarily of Nasdaq, Inc.
Read more at Nasdaq: Where Will Duolingo Be in 5 Years?