With 300 million users worldwide, it's all about hobbies and nothing else.
The magic of the big factory and the aura of Silicon Valley are no longer the only options for the tech elite, as an entrepreneurial company, Duolingo gives employees a more inclusive workplace environment, faster personal growth and more work autonomy, which makes it popular among young people and continues to attract top talent from top American institutions such as Harvard, Stanford, Duke and Carnegie Mellon.
As the world's most downloaded educational app, Duolingo has been selected into the high-quality business directories of many authoritative media and institutions such as Forbes and Fortune several times. While bringing free and high-quality educational resources to 300 million users worldwide, more attention is paid to passing on new ways of life of language learning to more young people. Since officially entering China in 2019, the number of users has exceeded 15 million and continues to show a good growth trend. It has received $30 million in Series F financing led by Google Capital, with a valuation of $1.5 billion.
Before founding Duolingo, Luis invented CAPTCHA (Verification Code Project) and reCAPTCHA. Because OCR technology was not as perfect as it is today, digitizing paper books was difficult. Luis gives humans words that computers can't recognize, making it more meaningful for people to fill out verification codes in a dozen seconds when they log in or tweet.
In the first quarter of 2023, Duolingo's DAU grew 62% year-over-year to 20.3 million; MAU grew 47% year-over-year to 72.6 million.
DAU/MAU reached 28% in the first quarter, and the total number of paying subscribers in Super Duolingo was 4.8 million, up 63% year-over-year.
Duolingo mentioned that the strong performance is mainly due to the continuous improvement of Duolingo's language learning application in three areas: teaching effectiveness, user stickiness and profitability. In addition, marketing becomes more effective through social media operations, KOLs, and word-of-mouth communication.
Regarding machine learning: Duolingo's data is 10-20 times larger than that of its opponents, which is a moat
In addition to being a co-founder of Duolingo, Luis von Ahn is a former associate professor of computer science at Carnegie Mellon University, where he focuses on the new field of computer science, "the interconnection of humans and machines", so he is happy to discuss the topic of artificial intelligence.
At the earnings call, Luis von Ahn said: "As far as artificial intelligence is concerned, we are very excited. I personally am very excited about artificial intelligence. Since we launched Duolingo, our goal has always been to be a person who teaches things, like a 1-on-1 human mentor, but we didn't use a 1-on-1 mentor because a 1-on-1 mentor is too expensive and hard to scale. So, we wanted to do that with AI from the start. ”
80% of Duolingo's users are in the United States, and the Chinese market accounts for only 2%-3% of total revenue
Regarding language learning, Luis von Ahn revealed an industry data at the earnings conference: "There are about 2 billion people in the world learning foreign languages, and together they spend about $60 billion a year. ”
Duolingo's latest figure is 73 million monthly active users, which means that Duolingo has a huge upside.
As far as China is concerned, Luis von Ahn mentioned: "Duolingo is very pleased with the progress made in China, which is one of our fastest growing countries. ”