Babbel, the edtech company behind the eponymous popular subscription-based online language learning service, is not exactly a spring chicken anymore. Born back in 2007, the scale-up has – weirdly – picked up no more than $30 million in funding to date, despite running one of the biggest subscription-based language learning businesses on the planet.
Or maybe it’s not despite but thanks to that status, as the company – now with more than 1,000 employees – is generating enough cash not to think about external funding all that much. It also doesn’t need to think about pursuing an IPO any time soon, which in this market is hard enough as it is.
Babbel famously launched an IPO on the Frankfurt Stock Exchange in 2021, but those plans were cancelled rather quickly.
But meanwhile, the company kept on growing, got really big in the US, and continues to hire at a fast pace.
More than enough reasons to …