Education can be well The most important activity we do as a society is – and may also be the hardest place to build a startup. Selling to school districts and universities is extremely difficult, but enticing consumers is even more difficult. Learning takes attention, patience, tenacity, and resources, and most consumers prefer to watch some lip-sync videos on TeakTalk than the math equations (not to mention that this type of entertainment is free). Education and learning feel aggressively in engagement, which limits the way in which startups can scale and succeed.
Nevertheless, VCs that traditionally roam in space have slowly spread over the last 10 years. Consumer and enterprise startups at Edtech are continuously attracting funding, and there is a growing crop of edtech-focused investors who are betting big on the future here. What has changed is not the market or its potential, but rather the notion that ambitious and sustainable companies can actually be built in education.
One of the companies leading the charge in changing those perceptions is Pittsburgh-based Duolingo. It is a language-learning app that has caught fire. Politely generated over a decade ago as a translation platform for news agencies, it is now used by 500 million people worldwide to learn Spanish, English, French and more, generating bookings of $ 190 million in 2020. . It is a runaway success, but a breakthrough that was earned after a year-long effort to earn the product and a revenue experiment to find its current location.
ClearTips is the author and analyst for this EC-1 Natasha Mascarenhas. Mascarenhas has been covering EdTech since day one, when he joined ClearTips as a venture capital and startup writer, and has built a reputation as a fearless crawler of this increasingly important ecosystem. The editor in chief of this package was Danny CrichtonWas copy editor Richard Dal Porto, And pictures were made by Nigel Sussman.
Duolingo had no say in the contents of this analysis and did not gain advance access. Mascarenhas has no financial ties to Duolingo or other conflicts of interest to disclose.
The Duolingo EC-1 consists of four main articles with a reading time of 12,200 words and 48 minutes. What’s in store here:
And finally, note that Duolingo’s chief executive and co-founder Luis von Ahn is having trouble, so be sure to grab your tickets as the negotiations will continue there.
We are always iterating on the EC-1 format. If you have any questions, comments or thoughts, please send an email to Danny Crichton, Managing Editor of ClearTips at firstname.lastname@example.org.