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Duolingo IPO translates to huge revenue growth



Language learning application Duolingo has filed for an initial public offering in the US, with revenue doubling in this year’s first quarter

Duolingo filed with the Securities and Exchange Commission to list on the Nasdaq under the ticker symbol “DUOL.”

It has grown 129% between 2019 and 2020. The company was valued at $70.8 million in 2019 to and $161.7 million in 2020.

The app has more than 500 million downloads. It’s the top-grossing app in the education category on both Google Play and the Apple App Store. The company offers courses in 40 languages to about 40 million monthly active users

Where does the company’s income come from?

The vast majority of Duolingo’s revenue comes from subscriptions. The company received 73% of its total top line from subscription incomes over the past year. 17% of the remaining income comes from advertising, and 10% from the company’s Duolingo English test.

More than 2,000 universities and institutions worldwide accept the Duolingo English Test is a language certification.

The company recorded revenue of $55.4 million over the past three months – 97% growth from the same period last year. Duolingo was last valued at $2.4 billion after receiving a $35 million in funding in November.

Natasha is an Associate Producer at ticker NEWS with a Bachelor of arts from Monash University. She has previously worked at Sky News Australia and Monash University as an Online Content Producer.


Big tech stocks tumble amid market uncertainty



Big tech companies are struggling in the markets this quarter as interest rates rise to battle inflation

Russia’s invasion of Ukraine has devalued tech stocks causing further supply chain disruptions and sending the broad S&P 500 index down about 5 per cent.

Rising interest rates triggered more severe plummets with the S&P dropping another 16 per cent and the Nasdaq Composite index by 22 per cent.

Tesla’s stock took a huge hit sinking to nearly 38 per cent its largest decline since 2010.

Amazon saw similar results falling by 35 per cent the most in over 20 years.

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Google to pay millions to app developers



App developers are accusing Google of tempting users into making in-app purchases.

The lawsuit relates to money that was made by app creators for Android smartphones.

The lawsuit was filed in a San Francisco court, where the 48,000 app developers are believed to have been affected.

“Following our win against Apple for similar conduct, we think this pair of settlements sends a strong message to big tech: the law is watching, and even the most powerful companies in the world are accountable when they stifle competition.”

Steve Berman, ATTORNEY FOR the Android developers.

Google says the settlement’s funds will support developers who have made less than USD $2 million in revenue between 2016 and 2021.

“A vast majority of U.S. developers who earned revenue through Google Play will be eligible to receive money from this fund, if they choose,” the company says.

Google says it will charge developers a 15 per cent commission on their first million in revenue.

The court is yet to approve the proposed settlement.

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Tesla deliveries expected to fall – here’s why



Tesla deliveries are expected to drop significantly in the second quarter, as prolonged Covid lockdowns in China and supply chain issues take their toll

The company is also struggling to ramp up its new factories, with Tesla boss Elon Musk seemingly distracted by his very public pursuit of Twitter.

Tesla has been plagued by production glitches in China and slow output growth at new factories in both Texas and Berlin.

Experts predict deliveries will slump to just over 295,000 vehicles for the second quarter.

This would be down from the company’s record of 310,000 in the preceding quarter, marking Tesla’s first quarter-on-quarter decline since 2020.

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