Relx-backed language learning app developer Babbel could be valued at up to $2.4bn through an initial public offering on the Frankfurt Stock Exchange.
Babbel, a Germany-based language learning app developer backed by information services provider Relx, plans to raise over €180m ($214m) in its initial public offering, Reuters reported on Tuesday.
The IPO is set to take place on the Frankfurt Stock Exchange later this year and could value the business at between $1.2bn and $2.4bn, according to sources familiar with the deal. BNP Paribas, Morgan Stanley, Citi and Berenberg will underwrite the offering.
Babbel has built an online platform where users can…
