Language-learning app Babbel targets 1 billion Frankfurt IPO, sources said

Image Source: Google Play Store

Lesson Nine, the Berlin-based company behind the popular language learning app Babbel, is reportedly planning to list on the Frankfurt stock in a deal which is expected to value the company at over 1 billion euros ($1.19 billion), sources familiar with the matter said. 

As reported by Reuters, Lesson Nine has tasked investment banks with organizing the IPO which the sources said that could take place in 2021Q3. 

The German company which has 750 employees said that it’s exploring ways of financing its growth. “But there is neither a decision for a particular (financing) option nor a timeline.”

The popular language learning app Babbel provides users with short & interactive lessons, games for vocabulary and spelling, videos, stories and more in 14 languages which include English, Spanish, French, Italian, Turkish, German, Russian, Swedish and many others. 

Also Read: The 8 Best Language Learning Apps

Babbel works with a subscription system and the company says it sold over 10 million subscriptions so far.

Related posts:

  1. The 8 Best Language Learning Apps
  2. Kahoot! acquires language learning app Drops for up to $50 million
  3. Duolingo raises $35 million at a $2.4 billion valuation
  4. Gojek and Tokopedia in advanced talks to seal a $18 billion merger, sources say
  5. Discord’s valuation would reach up to $7 billion with a new funding round, sources say

Written by Maya Robertson

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Loading…

Report: App-ads.txt adoption increased by 79% in 2020

‘Racing Master’ from Codemasters and NetEase coming to iOS and Android