Shares of Duolingo (DUOL) are rising as the company reported its second quarter results, revealing it easily beat Wall Street expectations on both the top and bottom lines. The company boasted about having more than 100 million monthly active users in the quarter.
Duolingo CEO Luis von Ahn joins Wealth! to give insight into the company’s performance and how its able to build upon its active users.
Explaining how the company can shift free users to premium, von Ahn claims: "We like our free users too. I mean… we have over 100 million monthly active users. About 8 million of them are paying subscribers, and in general, that number, the fraction of people who are monthly active users that are also paying subscriber[s] keeps going up. It’s been going up about one percentage point every year historically, and we expect it to continue going up, and the way we make it go up is by basically adding more value to the paid tier." When asked, von Ahn says the company does not have "a plan to wholesale increase prices" right now.
Watch the video above to hear how AI is changing how users use Duolingo.
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