How Babbel's Banking on Breaking Through the U.S. Market
Markus Witte, CEO of Babbel, joined Cheddar to discuss the growing popularity of learning languages through technology. He said that the desire to learn a new language has increased dramatically over the past decade and points out that people can now get their classes on-the-go.
But what makes Babbel different from similar offerings to those of Rosetta Stone or DuoLingo? Witte argued that his company provides courses tailored to users' native languages. The platform's audio examples and dialogues are recorded by real native speakers, instead of automated computers, empowering users to speak correctly and confidently from day one.
In that same vein, Babbel focuses on teaching its users conversational language, encouraging fluency sooner. Witte noted, unsurprisingly, that members are most eager to learn Spanish and English.
Vanguard's "How America Saves" report analyzes U.S. retirement trends, focusing on 401(k) plans, including automatic enrollment and contribution rates.
Amazon says it had its best Prime Day sales event ever this week with $14.2 billion spent online on Tuesday and Wednesday, up 11% compared to last year.
