BERLIN, Dec 23 (Reuters) - Babbel is setting its sights on acquisitions next year as well as watching for the right moment to resume its initial public offering (IPO), the language-learning app's CEO, Arne Schepker, told Reuters on Thursday.
The Germany-based company was solidly funded and could handle acquisitions even without the money from an IPO, he said.
"We are looking at acquisitions in the field of learning methodologies and business customers," added Schepker.
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Babbel recently introduced its Babbel Live virtual classroom product and broadened its corporate client business, which Schepker said increased its market by more than tenfold.
As of the middle of the year, Babbel counted more than 1,000 corporate customers and over 2.5 million paying users.
The company now wants to expand its offerings for business customers geographically and is looking at European countries beyond Italy and the German-speaking ones, according to Schepker.
In September, Babbel unexpectedly decided to postpone its IPO just a few days before its planned listing, citing unfavourable market conditions.
"We're observing the market and seeing when a window of opportunity for an IPO opens up again," Schepker said. "Whether that's as early as 2022, I don't know. But if an opportunity presents itself, there's nothing that would prevent it."
($1 = 0.8839 euros)
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Reporting by Nadine Schimroszik, Writing by Miranda Murray;Editing by Elaine Hardcastle
Our Standards: The Thomson Reuters Trust Principles.
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