M&A Deal Summary

Duolingo Acquires Hobbes

On July 9, 2024, Duolingo acquired digital media company Hobbes

Acquisition Highlights
  • This is Duolingo’s 1st transaction in the Digital Media sector.
  • This is Duolingo’s 2nd transaction in the United States.
  • This is Duolingo’s 2nd transaction in Michigan.

M&A Deal Summary
Date 2024-07-09
Target Hobbes
Sector Digital Media
Buyer(s) Duolingo
Deal Type Add-on Acquisition

Target

Hobbes

Detroit, Michigan, United States
Hobbes is a motion design studio focused on creative solutions in product design and emerging technology. It specializes in elevating user experiences forward with function and delight. Clients include future-thinking product teams at Google, YouTube, Ford, Zapier, and Duolingo. Hobbes is based in Detroit, Michigan.

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Buyer(S) 1

Buyer

Duolingo

Pittsburgh, Pennsylvania, United States
Category Company
Founded 2011
Sector Internet Software and Services
Employees720
Revenue 531M USD (2023)
DESCRIPTION

Duolingo is a language-learning platform and the most downloaded education app worldwide. Duolingo's mission is to make education free and accessible to all. Duolingo was founded in 2011 and is based in Pittsburgh, Pennsylvania.

DEAL STATS #
Overall 2 of 2
Sector (Digital Media) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Michigan) 2 of 2
Country (United States) 2 of 2
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-04 Gunner

Detroit, Michigan, United States

Gunner is an illustration and animation studio that strives to tell meaningful stories and create imagery that inspires. Gunner is based in Detroit, Michigan.

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