BERLIN, Sept 7 Reuters - German language learning company Babbel said on Tuesday it would register on the Frankfurt stock exchange this year to raise more than 180 million euros $214 million The Berlin-based company, which had revenue of 147 million euros in 2020, said that it would use the proceeds to introduce new learning experiences, access new markets and settle certain claims under existing employee incentives schemes.
Sources familiar with the deal said Babbel, founded in 2007, could be valued at 1 - 2 billion euros under the deal.
In the United States, giant rival Duolingo was recently floated in the United States and is now worth $6 billion.
BNP Paribas and Morgan Stanley are organising Babbel's IPO with the help of Citi and Berenberg. $ 0.8422 euros Reporting by Emma Thomasson and Nadine Schimroszik; additional reporting by Arno Schuetze; editing by Kim Coghill and Jason Neely.