Babbel aspires to the stock exchange
The language app plans to jump on the trading floor later this year, raising €180 million to grow further and make acquisitions. The company could be valued at over one billion euros.
With its concept of teaching languages online and through play, Babbel has been successful since 2007. Now the company has announced its intention to go public on the Frankfurt Stock Exchange this year. With this, the Berlin-based company plans 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 between one and two billion euros, as insiders Reuters have indicated to us. The Corona pandemic has had a positive impact for the Berlin-based company: Last year, the company generated 147 million euros in revenue, and already in the first half of 2021, revenue was up 18 percent from the same period last year to 83 million euros, Babbel said. Ten million of these have been signed up worldwide since the launch of the subscription service, according to the company. Babbel employs 750 people in its Berlin and New York offices.
Babbel's competitor from the US, the company Duolingo, only went public this summer and was valued at 6.5 billion US dollars.
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