Quizlet Revenue, Valuation & Funding (2025)

Quizlet does not publicly disclose its financials, but Matthew Glotzbach confirmed to Latka in 2018 that the company was generating triple-digit year-over-year revenue growth, meaning revenue was growing at more than 100 percent annually. Glotzbach confirmed the figure explicitly when asked: "That's correct."

Quizlet reported more than 30 million monthly active users as of 2018, a figure growing at 50 percent or more year over year. The platform was used by over half of US college students and two thirds of US high school students at that time.

The student subscription, Quizlet Plus, is priced at $20 per year, which Glotzbach described as less than $2 per month. The teacher subscription is priced at $35 per year and includes class organization tools and student statistics tracking in addition to the features available in the student tier. The free tier is supported by advertising. Glotzbach indicated the company does not attempt to monetize elementary school users and instead focuses conversion efforts on students moving from sophomore to junior year of high school and beyond. The total number of paid subscribers was not disclosed, though the host suggested on the record that the figure was likely north of one million, a characterization Glotzbach did not confirm or deny.

Quizlet operates a freemium model with three revenue streams: advertising on the free tier, a $20 per year student subscription, and a $35 per year teacher subscription. Glotzbach described the company's growth as driven entirely by organic SEO and viral word-of-mouth sharing, with no paid acquisition discussed.

The platform processes over 1 billion learning transactions per week, defined as a question posed to a user, an answer submitted, and feedback returned by Quizlet. The company has accumulated billions of data points on learning behavior, which Glotzbach identified as a core asset for building an AI-based tutor. Glotzbach noted that one of his first actions after joining in 2016 was converting the product from a one-time purchase model to a recurring subscription, which he said caused renewal rates to increase substantially, though specific before-and-after figures were not disclosed. Churn figures were not provided; Glotzbach said he did not have the annual logo churn number available and that the team monitors engagement at a more granular level using daily active users over monthly active users. Gross margin, burn rate, runway, LTV, CAC, and free-to-paid conversion rates were not disclosed.

Quizlet employed just over 100 people as of early 2018, the majority based in San Francisco with a small number of remote employees. When Glotzbach joined in early 2016, the team numbered approximately 30 people. The company more than tripled its headcount over roughly two years.