Babbel increases turnover to around 124 million euros
Tom Schmidtgen
| 04.02.2021
Sales in fiscal 2019 did increase by 16 percent - but the plan was for growth of 35 to 39 percent.
In fiscal year 2019, language learning app Babbel said it made 123.9 million euros in revenue. This represents an increase of 16 percent compared to the previous year. The share of Germany in total sales fell by one percentage point to 29 percent. At the same time, however, sales in this country also increased by ten percent. "Thus, Babbel maintained its position on the domestic market and was able to expand it even further," the company report said.
However, Babbel was not able to achieve its own goals with it. The company had actually targeted a 35 to 39 percent increase in revenue for fiscal 2019. Compared to the previous year, Babbel made a profit of just under 600,000 euros, according to the annual report. The Berlin-based company estimates the risks of the Corona pandemic as moderate. For 2020, it expects growth of eight to 18 percent.
Babbel has 750 people working in offices in Berlin and New York. The company was founded in 2007.
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Startup
2007
Berlin
Babbel
Learning tool for new foreign languages by combining effective learning methods with the latest technology.
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