![]() The need to monetize prompted Duolingo to double down on their business translation services, and to further engage users to generate these translations.Duolingo’s early business model around testing and crowdsourcing helped them to build a helpful app they could provide for free.Let’s take a closer look at the factors that have shaped Duolingo’s growth: There are two main things that helped Duolingo grow a huge, successful company while sticking close to their original vision: they went after a big market, and they meticulously experimented and used their data to inform all of their decisions. Along the way, Duolingo has built a $700 million company-without charging users a cent. Currently, they have over 25 million monthly active users learning a language right from their web browser or smartphone, each at their own pace. So Duolingo created a free app to help people around the world learn different languages. They wanted to tap into the hundreds of millions of people who wanted to learn a new language but couldn’t afford to shell out a ton of money for expensive software. The Duolingo founders identified a way to go after an even bigger market than Rosetta Stone’s. And based on Google trends, it seems like a lot of the world now agrees with them. The Duolingo founders thought they had a better idea. Rosetta Stone was only targeting a tiny portion of the language learning market-and charging them a fortune. ![]() They’d built a successful public company by going after a huge but fragmented market-worldwide language learners-and recorded over $209 million in annual revenue.īut the founders of language learning app Duolingo thought Rosetta Stone was capturing too small a market and growing based on a bad business model. When the language learning software company Rosetta Stone went public in 2009, they raised $112.5 million on their first day of trading. “We believe true equality is when spending more can’t buy you a better education.” – Duolingo founders
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