Lingoda presents business figures for 2019
Lisa Marie Münster
| 18.05.2021
Good news from start-up Lingoda: the online language school's net loss fell by almost one million euros from 2018 to 2019.
Berlin-based start-up Lingoda has published its annual report for 2019, reporting a net loss of €1.75 million, up from €2.7 million the previous year. The online language school is otherwise reticent about figures. Since its founding, Lingoda has cost 11.3 million euros to build. The balance sheet total for 2019 was 3.66 million euros, in 2018 it was still under one million euros.
The start-up was founded by brothers Fabian and Felix Wunderlich eight years ago, and since then Lingoda has raised over 80 million US dollars. In April 2021, the Berlin-based company received 68 million US dollars in a financing round, led by venture capitalist Summit Partners. Today, Lingoda says it has 150 employees working for it, while its 2019 financial statements still say the annual average was 63 employees.
Lingoda says it has benefited from the Corona pandemic, so the 2020 financial statements could be even more encouraging for the company.
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Startup
2013
Berlin
Lingoda
Platform for online language courses.
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