Competition

Language learning app usage (Q3 2021)

The language learning app industry has many players with few emerging winners. Duolingo is far ahead of other language learning apps, with no other app having over 10% of the market share in app usage for Q3 2021 or installs from January to September 2021. Of the language learning apps, Duolingo is the only publicly traded company; therefore, much more information in regards to financials, usage metrics, subscription data etc., is available for Duolingo than for any other language learning app company. With Duolingo being the market leader and having their financial information publicly available, my forward-looking projections for Lingvist's new venture were based on Duolingo's most recent Earnings Call Transcript for Q4 2021.

61 percent of installs in 2021 (from January to September) were for Duolingo, while 64 percent of the usage in Q3 2021 was on Duolingo.

Language learning app installs (2021)

Lingvist

Duolingo

About Duolingo:

Duolingo is the leading mobile learning platform globally, offering courses in over 40 languages to approximately 42 million monthly active users. With over 500 million downloads, its flagship app has organically become the world's most popular way to learn languages and the top-grossing app in the Education category on both Google Play and the Apple App Store. It offers features such as a gamified interface, learning solutions for schools, personalized learning experience, reward-based system.

Duolingo key statistics

Duolingo generated $161 million revenue in 2020, an 106 percent increase year-on-year
Duolingo has over 500 million registered users, 42 million are active once a month
In 2020, Duolingo was valued at $2.4 billion
Duolingo has 95 available courses in 38 languages

Duolingo overview

Launch date 19 June 2012

HQ Pittsburgh, Pennsylvania

People Luis von Ahn (CEO), Severin Hacker (CTO)

Business type Public (NASDAQ: DUOL)

Duolingo revenue

Year Revenue

2017 $13 million

2018 $36 million

2019 $78 million

2020 $161 million

Duolingo users

Year Users

2013 5 million

2014 10 million

2016 30 million

2018 25 million

2019 30 million

2020 42 million

Duolingo downloads

Year Downloads

2013 10 million

2014 25 million

2015 120 million

2016 150 million

2017 200 million

2018 300 million

2019 385 million

2020 500 million

Duolingo valuation

Year Valuation

2015 $470 million

2018 $700 million

2019 $1.5 billion

2020 $2.4 billion

Duolingo funding

Year Funding

2011 $3.3 million

2012 $18 million

2015 $83 million

2017 $108 million

2020 $148 million

Duolingo available courses

Year Available courses

2012 5

2014 11

2016 18

2018 62

2019 91

2020 95

Duolingo available languages

Year Available languages

2012 1

2016 19

2020 38

Duolingo users by language

English 399 million

Spanish 142 million

French 101 million

German 61 million

Italian 40 million

Portuguese 20 million

Source: https://www.businessofapps.com/data/duolingo-statistics/

Duolingo Vs Lingvist

Duolingo far surpasses Lingvist in the amount of languages available to learn; however, Lingvist has some advantages of its own.

Mondly

About Mondly:

Mondly is an app-based platform that offers audio-visual language learning courses in 30+ languages. Each course teaches 5K+ words & phrases with over 100 hours of learning split into 500+ interactive lessons. Also contains exercises aimed to develop listening, speaking, reading, and writing skills. Uses speech recognition technology to correct pronunciation. Also offers VR-based apps for language learning. The apps are available for iOS & Android platform. Claims to have over 25 million users.

Mondly Overview

Founded Year 2013

Location Brasov, Romania

Company Stage Unfunded

Busuu

About Busuu:

Mobile-based platform providing social networking solutions for learning languages. The platform enables users to access audio-visual language courses in multiple languages. The platform also enables users to practice language skills with native speakers of the community via an integrated video-chat application and peer-to-peer text corrections. Also offers an app for kids to learn languages and courses for business professionals. Its mobile app is available for Android & iOS devices.

Busuu overview

Launch date January 2008

HQ London, UK

People Bernhard Niesner (co-founder, CEO), Joonas Kukkonen (CTO), Adrian Hilti (co-founder)

Business type Private

Busuu key statistics

Busuu generated $40 million revenue in 2020, a 60% year-on-year increase
The app has over 100 million registered users
Over 10,000 live teachers available on the platform for 1-to-1 tutoring

Busuu revenue

Year Revenue

2017 $8 million

2018 $13 million

2019 $25 million

2020 $40 million

Busuu registered users

Year Users

2014 30 million

2016 60 million

2018 80 million

2020 100 million

Source: https://www.businessofapps.com/data/busuu-statistics/

Babbel

About Babbel:

Provider of an online language learning application. It offers courses on multiple languages that are divided into short lessons comprising grammar and vocabulary exercises. The courses are developed by a team of native linguists and teachers and created specifically for each language combination. The application also comes with a voice recognition system that tells the user when words are not spoken correctly. It is compatible with web, iOS, and Android devices.

Babbel key statistics

Babbel generated €147 million revenue in 2020, a 19% year-on-year increase
It has operated at a loss since 2013 and reported a €15.5 million net loss
Over 10 million people have subscribed to Babbel since launch

Babbel overview

Launch date January 2008

HQ Berlin, Germany

People Arne Schepker (CEO), Thomas Holl (CTO), Geoff Stead (CPO), Markus Witte (founder, Chairman)

Business type Private

Industry Language learning

Babbel revenue

Year Revenue

2013 €13 million

2014 €30 million

2015 €50 million

2016 €67 million

2017 €84 million

2018 €106 million

2019 €123 million

2020 €147 million

Babbel profit

Year Net income

2015 (€10.3 million)

2016 (€8.4 million)

2017 (€9 million)

2018 (€12.4 million)

2019 (€3 million)

2020 (€15.5 million)

Babbel subscribers

Year Subscription sales

2016 1 million

2019 7 million

2020 10 million

Source: https://www.businessofapps.com/data/babbel-statistics/

Memrise

About Memrise:

Memrise is a UK startup that has developed an eponymous language-learning platform that employs machine learning and localized content to adapt to the needs of the user as they progress through their lessons. It crowdsources the learning content from its community of uses a combination of audio and images to deliver the same to users. The company claims to use memory techniques to help associate words with one another for easier recall, as well as regular tests to ensure remembering the concepts. Supported languages include French, Spanish, Japanese, Italian, German, Korean, Arabic, Russian, Chinese, Portuguese, Danish, Swedish, Polish, Norwegian, Turkish and Dutch. As of 2018, the application has more than 150 language courses across 25 languages and a base of over 35 million registered users.

Memrise key statistics

Memrise made an estimated $22.8 million revenue in 2020, a 39% increase year-on-year
Memrise has over 55 million registered users
It has raised $21.8 million, with its latest round in June 2018 (Crunchbase)

Memrise overview

Launch date September 2010

HQ London, UK

People Ed Cooke (co-founder, CEO), Ben Whately (co-founder, CPO), Greg Dutre (co-founder)

Business type Private

Memrise revenue

Year Revenue

2017 $6.3 million

2018 $11.4 million

2019 $16.3 million

2020 $22.8 million

Memrise registered users

Year Users

2017 35 million

2018 40 million

2019 45 million

2020 55 million

Source: https://www.businessofapps.com/data/memrise-statistics/

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