Pre-IPO
IPO
Nasdaq
Equity – Common
S-1
Series H
$2.4B
Goldman Sachs, Allen & Company
0
Rolling Commitments $
Active
07/28/2021
0
0%
0%
$0
Pittsburgh, Pennsylvania
Education, Training, & Coaching
EdTech
B2B/B2C
Medium
Low
High Growth
Duolingo, with an expected public valuation at approximately $3.6 billion, will go public July 28th. The language-learning platform enables anyone to learn languages for free. Luis von Ahn and Severin Hacker founded Duolingo in 2009 when the pair met at Carnegie Mellon with the company’s private beta launching late 2011. Duolingo will trade under the ticker “DUOL” on the Nasdaq and is offering 5.8 million shares at a range of $95 to $100.
Income Statement
|
Revenue |
$161,696,000 |
|
Operating Expenses |
|
|
Research/Technology & Development |
$53,024,000 |
|
Sales & Marketing |
$34,983,000 |
|
General & Administrative |
$43,713,000 |
|
Total Operating Expenses |
$131,720,000 |
|
Operating Income |
$-16,011 |
|
Other Income, Net |
$303 |
|
Income (Loss) Before Provision For (Benefit From) Income Taxes |
$-15,708,000 |
|
Provision For (Benefit From) Income Taxes |
$68,000 |
| Net Income (Loss) |
$-15,776,000 |
|
Net Income (Loss) Attributable to Common Stockholders: |
|
|
Basic |
$0 |
|
Diluted |
$0 |
|
Net Income (Loss) Per Share Attributable to Common Stockholders: |
|
|
Basic |
$-1 |
|
Diluted |
$-1 |
|
Weighted-Average Shares of Common Stock Used For Pro Forma: |
|
|
Basic |
$31,809,000 |
|
Diluted |
$31,809,000 |
Balance Sheet – Assets
|
Current Assets |
|
|
Cash and Cash Equivalents |
$161,696,000 |
|
Accounts Receivable |
$20,450 |
|
Total Current Assets |
$158,380,000 |
|
Property and Equipment, Net |
$6,428,000 |
|
Goodwill |
$0 |
|
Intangible Assets, Net |
$0 |
|
Restricted Cash |
$0 |
|
Other Assets |
$562,000 |
| Total Assets |
$175,739,000 |
Balance Sheet – Liabilities
|
Current Liabilities |
|
|
Accounts Payable |
$2,196,000 |
|
Accrued Expenses |
$0 |
|
Other Current Liabilities |
$8,634,000 |
|
Total Current Liabilities |
$65,690,000 |
| Total Liabilities |
$73,821,000 |
|
Commitments and Contingencies |
|
|
Convertible Preferred Stock |
$182,609,000 |
|
Stockholders’ (deficit) Equity |
|
|
Common Stock |
$1 |
|
Additional Paid In Capital |
$30,087,000 |
|
Accumulated Other Comprehensive Income (Loss) |
$0 |
| Total Stockholders’ (Deficit) Equity |
$-80,691,000 |
Statements of Cash Flows
|
Cash Flows from Operating Activites |
|
|
Net Cash Provided By (Used In) Operating Activities |
$17,708,000 |
|
Cash Flows from Investing Activites |
|
|
Net Cash Provided By (Used In) Investing Activities |
$-4,014,000 |
| Total Cash, Cash Equivalents, and Restricted Cash |
$0 |
Financials as of: 06/28/2021
