Duolingo (DUOL) shares are rising after the company reported its second-quarter results, which showed it handily beat Wall Street expectations on both revenue and profit. The company boasted of having more than 100 million monthly active users during the quarter.
Duolingo CEO Luis von Ahn joins Wealth! to share insights into the company’s performance and how it can build on its active users.
Von Ahn explains how the company can convert free users to premium users: “We like our free users too. I mean… we have over 100 million monthly active users. About 8 million of those are paying subscribers, and generally that number, the proportion of people who are monthly active users and are also paying subscribers, keeps going up. Historically, it’s gone up by about a percentage point every year, and we expect it to keep going up. We do that by basically adding more value to the paid plans.” When asked, von Ahn says the company currently has “no plan to raise prices across the board.”
Watch the video above to learn how AI is changing the way users use Duolingo.
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This article was written by Nicolas Jacobino
