You leave for a vacation and then this happens. According to Seattle based tech blog Geek Wire, Livemocha surpassed the 10 million user mark in late June and now raised another $5 million. That brings the total funding of Livemocha up to $19 million.
There are two interesting points in the startup spotlight made about the company. One is the question about the biggest mistake Livemocha made up to now.
“Underestimating how fast this market moves. We have a leadership position today but this isn’t a U.S. competition. It’s a global battle for market share and the rest of the world isn’t standing around. There are a lot of nimble, hungry competitors in China, India, Europe, and Latin America that are chasing us…”
The second one is why the competitors should fear Livemocha.
”We’re winning and our sales are growing! Soon, we will be profitable and then it will be over for some of our competitors.”
Ouch. The language learning market is turning more and more into a battlefield. From this interview it seems as if Livemocha is planning to out-hustle the smaller competitors like busuu first and then take on Rosetta Stone. Though both of them have developed tactics to take on Livemocha, too. busuu is building up a sales team in the US and Rosetta Stone is underlining its premium brand with its own retail stores. Truly interesting months to come.