Duolingo was founded in 2011 by Luis von Ahn and Severin Hacker. In an interview with Inc. in December 2018, it was reported the company planning for an IPO in 2020, though no updated timelines have been publicly disclosed. These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
Duolingo owns and operates a mobile and web app that provides language-learning tools and lessons for free. The company has raised approximately $150 million in Venture Capital funding from investors including NewView Capital, Drive Capital, Inside Capital, CapitalG, Kleiner Perkins, Union Square Ventures, and A-Grade Investments. Per regulatory filings with the SEC, Duolingo last raised $10 million in April 2020 at an estimated post-money valuation of $1.6 billion.