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  • Writer's pictureAvory Team


Data Story

The beginning of a new year is a symbolic time for many people, representing a fresh start and a chance to change their lives. As a result, many individuals set personal goals, such as losing weight, exercising more, or learning something new. Over the last five years, language learning has entered the mix. We are investors in Duolingo (not a recommendation) and therefore track their end-of-year data very closely. We completed the review, and the main takeaway was that Duolingo saw another strong close to the year and a healthy turn of the calendar.

Revenue in the app store for the month of December was +56% from the year prior and surpassed a whopping $25m. This is their net number which excludes the 20-30% tax they pay Apple for being in the app store. Additionally, the first week of January saw a record amount of weekly downloads.

Duolingo also has two other apps. Duolingo ABCs for reading and Duolingo Math. Duolingo ABCs saw over 200k downloads in December, which is 5x from a year ago. While this app is not monetized it can be viewed as a gateway into their language and math offerings.

Potential Investment Implications

The potential investment implications here are pretty clear. Data tells stories and the data here is pretty healthy.

Disclaimer: See the disclaimer page. Not a recommendation to purchase or sell any securities mentioned.


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