Babbel aims to go public

The voice app wants to go public this year and raise 180 million euros in order to continue to grow and make acquisitions. The company could be valued at over one billion euros.

Babbel has been successful since 2007 with its concept of teaching languages online and in a fun way. The company has now announced its intention to go public on the Frankfurt Stock Exchange this year. The Berlin-based company intends to raise 180 million euros, which will be used for further expansion, acquisitions and the expansion of its offering.

In the course of the IPO, Babbel could be valued at one to two billion euros, according to insiders Reuters reported to Reuters. The coronavirus pandemic has had a positive impact on the Berlin-based company: Last year, the company generated 147 million euros in revenue, and sales in the first half of 2021 have already risen by 18 percent compared to the same period last year to 83 million euros, Babbel announced. According to the company, ten million subscriptions have been taken out worldwide since the launch of the subscription service. Babbel employs 750 people at its offices in Berlin and New York.

Babbel's competitor from the USA, the company Duolingo, only went public in the summer of this year and was valued at 6.5 billion US dollars.