Babbel Set to Go Public With a Target of $374 Million
Babbel is an online language-learning company based out of Berlin, Germany. The company is a part of Babble Group AG. Recently, it was announced that Babbel would be going public with an IPO. As per a source, Babbel was trying to raise 316 million Euros with the help of this IPO. As per the IPO filing, the company offered 7.3 million shares at a price band between 24 euros and 28 euros per share. It was also revealed that some of the existing investors of Babbel have been offering 4 million shares of the company.
During the last funding round in 2015, Babbel successfully raised 28 Million Euros. As per the calculation, if the IPO was successful and the share price had hit 28 euros, then Babbel’s market cap would have been at 1.27 billion Euros. Babbel also revealed that the funding from the shares would have been used for expanding the business. Babbel witnessed an improvement in sales, and the new sales milestone touched 83 million euros. This was a growth of 18% within the first six months of the year. The new fund would help Babbel expand to newer markets and offer better services to the users.
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Babbel Investors Seek Up to $374 Million in IPO
The investors of Babbel are positive about the growth prospects. One of the direct competitors of Babbel Duolingo Inc. You will be surprised to know that Duolingo rallied during the same time period. This gives more confidence to the investors. The prospects of the Babbel IPO look amazing, and it will be interesting to see how it performs on the stock exchange. Please let us know your thoughts about Babbel and if you would like to invest in Babbel during the IPO. Also, share what are the factors that you would look into while considering an IPO subscription.