Educational and language learning platform makers at Duolingo Inc. celebrated a successful IPO on Nasdaq on July 28, 2021, raising about $521 million in the process. The East Liberty-based company long has been considered one of Pittsburgh’s most prolific tech companies. Founded in 2011 by CEO Luis von Ahn and Chief Technology Officer Severin Hacker, Duolingo (NASDAQ: DUOL) employs about 550, most of whom work in the Pittsburgh region, and has expanded beyond its initial language learning platform to include products that touch on testing English proficiency and teaching early childhood literacy. Soon it will launch a math-based platform.
What opportunities proved beneficial to have an exit in the past year?
When Duolingo decided to IPO last year, we felt it was the right timing. … We had a strong track record of revenue growth, had positive cash flow and could forecast with reasonable confidence our future revenue. This final point was important because the public investors want to see predictable revenue.
How has the exit benefitted the company since?
First of all, the IPO raised significant capital, which the company can now use to invest further in our growth. And second, going public is almost like a graduation for a young company. We now operate with a greater sense of efficiency and discipline toward achieving our goals. We have more robust systems and processes in place for things like finance and accounting, business operations and long-term strategic planning. Another advantage from the exit is talent acquisition. An IPO is a huge marketing event for your brand, and I think we really took advantage of that moment, despite it being a really crowded summer for IPOs in 2021.
Is the company currently hiring, and, if so, for which roles?
Yes, Duolingo is currently hiring for a variety of open roles, primarily in engineering, design, product management, marketing and much more.
— Sam Dalsimer, global head of communications, Duolingo Inc.
