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.
Today, Quizlet launched our State of Modern Learning Report 2021. Check out what study behaviors from millions of students during the 2020-2021 school year can tell us about their self-learning needs.
— Quizlet (@quizlet) August 11, 2021