Business

Duolingo valued at US$6.5 billion as shares soar in debut

Language learning app Duolingo Inc's shares rose nearly 39per cent in their U.S. market debut on Wednesday, giving it a valuation of US$6.5 billion on a fully-diluted basis.

Smartphone with displayed Duolingo app is placed on the keyboard in this illustration taken
FILE PHOTO: Smartphone with displayed Duolingo app is placed on the keyboard in this illustration taken, June 29, 2021. REUTERS/Dado Ruvic/Illustration

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REUTERS: Language learning app Duolingo Inc's shares rose nearly 39per cent in their U.S. market debut on Wednesday, giving it a valuation of US$6.5 billion on a fully-diluted basis.

The company's stock opened at US$141.4 per share, blowing past the initial public offering price of US$102 per share.

(Reporting by Niket Nishant in Bengaluru; Editing by Devika Syamnath)

Source: Reuters