Speak, a popular language learning platform from the US announced its series B round of $27M recently. With leading platforms receiving massive funding across the globe, the language learning industry is coming up as a lucrative business opportunity.
The main reason behind such growth is globalization, which makes communicating across cultural and linguistic boundaries very important. Bridging the language gap has become a big necessity in the current scenario. However, technology is playing a pivotal role in transforming the language learning industry.
One of the most important advancements in this field is the development of online language learning platforms. These platforms offer courses in a wide range of languages to learn from Mandarin and Spanish to French, English, and Arabic. Platforms like Cambly, Preply, and more offer courses taught by native speakers and language experts.
These platforms have become immensely popular and have established themselves as a profit-making business model in the industry. According to a recent report, Europe’s online language learning market is predicted to be worth $8 Billion by 2030 showing immense potential for budding entrepreneurs.
In conclusion, the language-learning industry is transforming rapidly, and building a feature-rich language-learning platform to cater to this demand would be a good idea at this point in time.
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