Edtech Firm Duolingo Goes Beyond Language, Forays Developing Music App

• Language learning app Duolingo, Inc (NASDAQ: DUOL) is working on a music app.

• Duolingo currently has a small team working on a music product and is hiring a learning scientist who is an “expert in music education who combines both theoretical knowledge of relevant learning science research and hands-on teaching experience,” according to a job posting, TechCrunch reports.

• Duolingo also posted a job soliciting a freelance music composition and curricular consultant.

• The job listing indicates it will teach basic concepts in music theory by tapping popular songs and teachers.

• Duolingo has slowly evolved beyond language learning into several auxiliary new projects like the Duolingo English Test, Duolingo English Test, and Duolingo Math that may represent significant revenue streams.

• Language, math, and music in Duolingo all require users to know the basics as it focuses on building blocks, instead of specific mastery, as a way to learn a skill.

• Duolingo chief business officer Bob Meese is an investor in Trala, a tech company that offers virtual violin lessons.

• In February, Duolingo reported quarterly losses of 35 cents per share, which beat the consensus estimate of a loss of 53 cents by 33.96 percent. The company also reported quarterly sales of $103.82 million, beating the consensus estimate of $99.89 million. This sales figure is a 42.2% percent increase over sales of $73.01 million in the same period last year.

• Price Action: DUOL shares are trading lower by 2.39% at $126.32 premarket on the last check Tuesday.

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This article Edtech Firm Duolingo Goes Beyond Language, Forays Developing Music App originally appeared on Benzinga.com

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