Language-learning app Duolingo files for U.S. IPO, reveals revenue surge

Language-learning app Duolingo Inc on Monday filed for a U.S. initial public offering and revealed that its revenue more than doubled in the first quarter this year.

The company was last valued at $2.4 billion after a $35 million funding from Durable Capital Partners and General Atlantic in November.

Duolingo recorded revenue of $55.4 million for the three months ended March 31. Net losses in the same period widened to $13.5 million from $2.2 million a year ago.