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July 27, 2021, 8:11 p.m. EDT

Duolingo prices IPO at $102 a share, above expected range

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By Mike Murphy

Duolingo Inc., the maker of language-learning and educational apps, priced its initial public offering at $102 a share late Tuesday, above its expected range.

Duolingo plans to offer 5.1 million shares, raising about $520 million for a valuation above $3.4 billion. It is expected to begin trading Wednesday on the Nasdaq Global Select Market under the ticker symbol “DUOL.”

On Monday, the company had raised its expected price range to $95 to $100 a share, up from an original range of $85 to $95.

 Goldman Sachs and Allen & Co. are lead underwriters of a group of 10 banks backing the deal.

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