Source: Fortune
Summary
Kirill Bigai, CEO of Preply, paid himself little during the company’s early years as it scaled from a small language-learning platform to a $1.2 billion business. Bigai and co-founder Dmytro Voloshyn worked side jobs while running the company from Kyiv, Ukraine, to keep costs low. After two years, they earned $500 monthly and eventually quit their jobs to focus on Preply. The platform now connects 150,000 tutors with learners across 180 countries. Preply raised $150 million in a Series D round, valuing the company at $1.2 billion, according to Fortune.
Our Reading
The numbers tell one story.
Bigai and Voloshyn ran a lean operation, working side jobs to fund their startup.
They paid themselves little, then more, then nothing, as the company scaled.
Preply now has 800 employees and 150,000 tutors on its platform.
The story of a founder’s sacrifice is a familiar refrain in the world of unicorns.
Author: Evan Null
How the CEO’s search for an English tutor became a $1.2 billion business
Like many founders, Bigai’s idea came from a personal need. He struggled to learn English and found a tutor through Skype, which inspired him to create a platform connecting tutors and learners.
Preply started with 100 tutors registered via Google Forms. Bigai cold-called potential users, and the platform quickly expanded beyond English to include other languages.
The company raised $1.3 million in seed funding in 2016, allowing it to grow its network and develop new features for teachers and students.
Today, Preply offers more than language learning, including math, computer science, and chess, with a growing international presence.
The journey from a personal problem to a $1.2 billion valuation took over a decade of trial and error.
The Early Days of Preply
Bigai and Voloshyn started Preply in 2012 with minimal funding. They relied on bootstrapping and side jobs to keep the business running while building their platform.
During the first year, they earned no income from the company. They worked 60-hour weeks, juggling their startup with other jobs to make ends meet.
Bigai worked as an implementation consultant at Creatio, with prior experience at Nokia and Siemens Networks. Voloshyn pursued a PhD in machine learning while working as a software developer for AB InBev.
It took six months before they could afford a $100 monthly salary. After two years, they were earning $500 a month and could focus on Preply full-time.
Their early sacrifices laid the foundation for what would become a $1.2 billion business.
The Growth of Preply
Preply’s initial success came from connecting tutors and learners through a simple platform. It started with English but quickly expanded to include other languages.
The company’s user base grew rapidly, with hundreds of tutors available for each language. It now serves learners in 180 countries and offers more than 90 languages.
In 2016, Preply raised $1.3 million in seed funding, which helped it scale its operations and improve its product offerings.
Today, Preply has 800 full-time employees and hosts 150,000 tutors on its platform. It has also expanded into non-language subjects like math and chess.
The company’s growth reflects the increasing demand for online education and personalized learning solutions.
The Role of Funding in Preply’s Success
Preply’s journey to becoming a unicorn was fueled by multiple rounds of funding. The company raised a total of $299 million, including a $150 million Series D round in 2026.
The Series D round, led by WestCap, almost tripled Preply’s valuation to $1.2 billion. This funding allowed the company to invest in AI tools and expand its engineering teams in New York and London.
Bigai and Voloshyn emphasized the importance of focusing on a problem they deeply understood—language learning. This insight helped them build a platform that resonated with users around the world.
Despite the financial success, the founders’ early sacrifices highlight the challenges of building a startup from the ground up.
Preply’s story is a testament to perseverance, innovation, and the power of solving a real-world problem.
