Quizlet.com, on the Path to Becoming Public After Its Unicorn Status

IBL News | New York

San Francisco-based, flashcard tool Quizlet.com is planning to become public after hitting the status of a unicorn, according to Techcrunch.

To date, the San Francisco-based start-up has raised $62 million in funding. Investors include General Atlantic, Owl Ventures, Union Square Ventures, Costanoa Ventures, and Altos Ventures.

Duolingo’s successful reception in Wall Street since it went public in July 2021 is encouraging the investment community to accelerate IPO plans, experts told IBL News.

With 60 million monthly learners, Quizlet has added AI-based tutoring tools to their flashcards.

Its free flashcard maker — which integrates with Google Classroom — has allowed the company to build a large-scale business. The company’s revenue comes mostly from Quizlet Plus paid subscription model. It charges $47.88 a year for access to more features, including tutoring services.