Babbel language learning app targets acquisitions – CEO

BERLIN, Dec.23 (Reuters) – Babbel targets acquisitions next year and is watching for the right time to resume its initial public offering (IPO), CEO of the language learning app Arne Schepker told Reuters on Thursday. .

The Germany-based company was well funded and could handle acquisitions even without the money from an IPO, he said.

“We are considering acquisitions in the area of ​​learning methodologies and business clients,” added Schepker.

Babbel recently launched its Babbel Live virtual classroom product and expanded its enterprise customer activity, which Schepker says has more than increased its market tenfold.

By mid-year, Babbel had over 1,000 corporate clients and over 2.5 million paying users.

The company now wants to geographically expand its offer for business customers and is considering European countries beyond Italy and German-speaking countries, according to Schepker.

In September, Babbel unexpectedly decided to postpone its IPO just days before its scheduled IPO, citing unfavorable market conditions.

“We watch the market and see when a window of opportunity for an IPO opens again,” Schepker said. “I don’t know if it’s as early as 2022. But if an opportunity presents itself, nothing will prevent it.”

($ 1 = € 0.8839)

Reporting by Nadine Schimroszik, written by Miranda Murray; edited by Elaine Hardcastle

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