Duolingo Approaches Tech "Unicorn" Status
Duolingo is taking the internet by storm -- and Rosetta Stone (NYSE: RST) is nervous.
Once upon a time, language-learning software company Rosetta Stone seemed destined to disrupt the way languages are taught. Offering foreign language-training via CD-ROM for just a few hundred dollars, Rosetta undercut the costs of college language courses, which offered similar services for several times the cost. When Rosetta Stone had its IPO in 2009 -- in the midst of the financial crisis -- it surprised a lot of investors by first pricing above expectations, then popping 40% in its first day of trading.
Unfortunately, it's all been downhill from there. From a post-IPO high of nearly $30 back in August 2009, Rosetta has seen its stock price fall by nearly two thirds -- to a recent low of just $10 and change. Rosetta Stone, the language-learning disruptor, has instead been disrupted.
Source: Fool.com