Duolingo Inc., the maker of language-learning and educational apps, priced its initial public offering at $102 a share late Tuesday, above its expected range.
Duolingo plans to offer 5.1 million shares, raising about $520 million for a valuation above $3.4 billion. It is expected to begin trading Wednesday on the Nasdaq Global Select Market under the ticker symbol “DUOL.”
On Monday, the company had raised its expected price range to $95 to $100 a share, up from an original range of $85 to $95.
Goldman Sachs and Allen & Co. are lead underwriters of a group of 10 banks backing the deal.