LinguaLeo service raised $ 500 thousand amid unprofitability and downsizing information
Investors of Social Discovery Ventures ( SD Ventures ) and Runa Capital have invested $ 500 thousand in the service for learning English LinguaLeo . Runa Capital does not invest in the project for the first time. In July 2012, the company invested $ 3 million in LinguaLeo.
The SD Ventures Foundation also invested in such companies as social networks Shocase and Streetlife , Shazam service, TripTogether , the website for searching for travel companions , dating sites AsianDate , Moonit . In the future, the probability of mutually beneficial cooperation between LinguaLeo and the fund's portfolio companies is not excluded.
The funds raised will be used to develop the priority areas of the project - improving the quality of training and optimizing motivational mechanisms.
The concept of the service is based on gaming training methods. They serve not only to better master the English language, but also to increase user motivation. According to company estimates, over 9 million people are currently using the service. There are several versions of the service for different platforms. Any user can access LinguaLeo via the web interface. And owners of devices based on Android, iOS and Windows Phone can download the corresponding application for themselves.
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LinguaLeo was launched in 2010. The first investors of the project were Yegor Rudi, Igor Ryabenky and Sergey Kuznetsov. They invested $ 200 thousand in the project. Since its inception, LinguaLeo has raised $ 3.7 million in total. At the beginning of last year, the project management attempted to bring it to the international market. However, it was unsuccessful.
On May 15, Megamind wrote that the LinguaLeo service planned to reduce staff by 30%. Such a decision is explained by an unfavorable economic situation. The remaining 70% of employees were going to cut wages. This was due to lack of funding. But now, with the advent of new investments, the team will be able to retain key employees and become self-sufficient, reports Firrma.
The SD Ventures Foundation also invested in such companies as social networks Shocase and Streetlife , Shazam service, TripTogether , the website for searching for travel companions , dating sites AsianDate , Moonit . In the future, the probability of mutually beneficial cooperation between LinguaLeo and the fund's portfolio companies is not excluded.
The funds raised will be used to develop the priority areas of the project - improving the quality of training and optimizing motivational mechanisms.
The concept of the service is based on gaming training methods. They serve not only to better master the English language, but also to increase user motivation. According to company estimates, over 9 million people are currently using the service. There are several versions of the service for different platforms. Any user can access LinguaLeo via the web interface. And owners of devices based on Android, iOS and Windows Phone can download the corresponding application for themselves.
')
LinguaLeo was launched in 2010. The first investors of the project were Yegor Rudi, Igor Ryabenky and Sergey Kuznetsov. They invested $ 200 thousand in the project. Since its inception, LinguaLeo has raised $ 3.7 million in total. At the beginning of last year, the project management attempted to bring it to the international market. However, it was unsuccessful.
On May 15, Megamind wrote that the LinguaLeo service planned to reduce staff by 30%. Such a decision is explained by an unfavorable economic situation. The remaining 70% of employees were going to cut wages. This was due to lack of funding. But now, with the advent of new investments, the team will be able to retain key employees and become self-sufficient, reports Firrma.
Source: https://habr.com/ru/post/290920/
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