Stock Deep Dive - Duolingo

The EdTech giant with high growth, strong returns, and a long runway ahead

Welcome to another edition of Deep Dives.

Duo the Owl showing off one of his many personalities. Source

I’m sure you’ve heard of Duolingo—the wildly popular language-learning app was named “Marketer of the Year” in 2024, and millions of people use the app on a daily basis to improve their linguistic skills.

The company is growing fast, with revenue surpassing $740 million in 2024. In this deep dive, we’ll explore what makes Duolingo unique and whether it’s a compelling investment opportunity. (Spoiler: it probably is)

What You’ll Read Today

1. Duolingo’s History

2. Duolingo’s Business

   1. Products

   2. Moat

   3. Key Financials

   4. Management

3. Conclusion

   1. Risks

   2. Valuation

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Duolingo’s History