![]() ![]() We will examine the current market prospects, the various monetization models, and the cost of creating a language app. This post will not only illustrate the stratagems employed by the most successful businesses in the industry, but it will also give an understanding of how to create a business-ready language app. Other major companies, such as Preply and Babbel, have also managed to capture market share by utilizing user data and providing high-quality content. The success of Duolingo is credited to two factors: tapping into huge markets and decision-making based on data. This eventually grew into a multi-million dollar venture, with Duolingo building a $700 million company without asking its users a cent. This gap in the market created a lucrative opportunity for Duolingo, who swooped in with their free app and quickly amassed 25 million monthly active users. However, they should have recognized the importance of an affordable option for their customers. Not long ago, Rosetta Stone enjoyed a near-monopoly of the language software industry, earning over $200 million in revenue annually from its high-end learners. What makes Duolingo so successful, and how can you use that knowledge to build your own language learning app? You’re in the right place. ![]()
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