Duolingo CFO Matt Skaruppa to step down after nearly six years
Woman with her smartphone poses in front of displayed Duolingo logo in this illustration taken, June 29, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
Jan 12 : Duolingo said on Monday that Chief Financial Officer Matt Skaruppa will step down after nearly six years in the role, marking the departure of a key executive who helped the language-learning app maker go public.
During his tenure, the company saw consistent revenue growth and improving profitability as it converted strong user engagement into paid subscriptions and ramped up the use of artificial intelligence to personalize lessons and attract more users.
Skaruppa, who joined Duolingo in early 2020, will remain CFO until February 23, before moving into an advisory role to support a leadership transition, the company said.
Gillian Munson will succeed Skaruppa as CFO, the Pittsburgh-based company said. Munson has served on Duolingo's board since 2019 and previously held senior finance roles at Vimeo and other technology companies.
Separately, Duolingo announced preliminary results for the December quarter. Daily active users grew about 30 per cent, largely in line with expectations, according to Visible Alpha data.
Bookings for the fourth-quarter were between $329.5 million and $335.5 million, marginally below estimates of $334.2 million.
Duolingo will continue to focus on monetization, but is increasingly shifting its priorities toward improving teaching quality, CEO Luis von Ahn told Reuters in November.
