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