That’s a very interesting article that you linked to about Memrise’s supposed new round of funding. But there’s a curious statement in it that caught my attention.
The article was written in June of 2018, and says:
“The funding comes after a period of strong growth: Memrise has now passed 35 million users globally across its 20 language courses, and it tipped into profitability in Q1 of this year.”
So, according to that quote, it appears that they “tipped into profitability” in Q1 of 2018, which to me means that they are profitable now, but were unprofitable before now.
But in the interview with Ed Cooke, CEO, published in December 2016, he is quoted as saying:
Q. “What is your greatest business achievement to date?”
A. “Achieving profitability.”
And in a post written in November of 2016, Ben Whately says:
“As our userbase and profitability has grown we have been able to expand our team a lot in the last 12 months.”
He said that their “profitability has grown,” which to me means that he is claiming that they were profitable as of November 2016, and that their profits were increasing.
So, we are presented with conflicting information. We have the CEO and COO both declaring Memrise profitable at the end of 2016, but in this new announcement, we read that they “tipped into profitability” in the first quarter of 2018.
So what are we supposed to believe? Are they really profitable now? Were they really profitable at the end of 2016? With all the conflicting information, can we even believe the happy story about the supposed new funding?