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Pittsburgh’s Duolingo debuts on Wall Street, valued at $6.5 billion

The company’s public debut on the Nasdaq comes at an ideal time when investors are increasingly interested in edtech platforms, especially with students, teachers and parents looking to apps for educational resources and supplements. Currently, Duolingo’s largest market is the United States, which brings in 45% of the company’s revenue.

The language learning app’s stock opened at $141.4, which is higher than the initial IPO price. Clearly, Wall Street was excited. Duolingo’s $6.5 billion valuation makes it the latest edtech startup impressing Wall Street. In efforts to continue its dominance, Duolingo plans to use this boost to turn active users to paying subscribers. The company also plans to further expand in Asia, its fastest growing region.

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Market Square, Pittsburgh Downtown Partnership

From the Blog

Embracing Change, Advancing Downtown

The pandemic reshaped our thinking about our work habits, shifted our priorities, and created a watershed moment for businesses traversing some of the most challenging times in modern history. It has fundamentally changed us. 

Our cities and our downtowns are no different.

In Pittsburgh, we are incredibly fortunate to have a beautiful city that offers premium cultural and sporting destinations, and is home to hundreds of businesses and thousands of residents. But the Downtown Pittsburgh experience is fundamentally changing.

How are we adapting? How is Pittsburgh leading the way in rethinking a city? 

Jeremy Waldrup, president and CEO, Pittsburgh Downtown Partnership, writes in our latest blog how his organization is seizing the moment to create a once-in-a-lifetime impact in the Downtown Pittsburgh neighborhood that will last for decades. 

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What I see here, which was not the case a couple of years ago, is that now there are some role models, some success stories, some big achievers, like the Argos and Auroras of the world.

Çetin Meriçli, CEO & Co-founder, Locomation
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Duolingo from Pittsburgh goes public on Wall Street