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LinguaLeo raises $500,000 after cutting 30% of staff

Earlier this month LinguaLeo, a service used by millions of web and mobile users in Russia, Brazil and Turkey to learn English, finally received a $500,000 capital injection from Social Discovery Ventures (SD Ventures) and existing investor Runa Capital.

 

In May, after failing to raise funds, he startup had cut 30% of its staff and reduced salaries in a bid to reach break-even, as reported by Russian tech blog Rusbase.

 

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