Language Firm Babbel, Investors Seek Up to $374 Million in IPO
- Demand for learning platforms during pandemic boosts sales
- U.S. rival Duolingo’s shares have soared since IPO this year
The Babbel logo
Photographer: Igor Golovniov/SOPA Images/LightRocket/Getty Images
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Online language learning company Babbel Group AG and some of its backers are seeking to raise as much as 316 million euros ($374 million) in a Frankfurt initial public offering.
The Berlin-based company is marketing 7.3 million new shares at 24 euros to 28 euros apiece, while some of its existing investors are offering 4 million shares, according to a statement Wednesday.