Looks like a great product. I may use it later this year as I'm learning Spanish.
However, your business model is weak, because people are fickle and don't stick with language learning (I should know; I've been learning Spanish for 6 years on and off). Plus, the more you use your product, the less you need it.
However, there is a much better target market: businesses. I know a whole bunch of foreign nationals in the UK who have earned money working on rather basic translation tasks for web businesses. I can imagine a tool like this would be hugely useful for those businesses. Sure, I can go use Google translate, but having a polished user experience in-browser looks a lot nicer and more professional if a customer is watching me use it.
So, I say this year focus on selling to SMEs. If you get just a few major business contracts, it will dwarf your income from regular users. You're looking for companies that work a lot on the web and interact with organisations overseas, possibly speak a little of the relevant foreign language but can't afford to pay for bilingual speakers.
Random thoughts:
- the travel industry - travel agents, companies that organise tours, tourist visitor centres, accommodation agents, etc. Anyone who might want to quickly check a foreign website. - government, particularly anything interacting abroad or with non-native speakers. - SME exporters - journalists - researchers
Final point - I'm not so keen on your branding. Learning a language is an exciting, potentially life-changing experience! It can increase your employability and open your eyes to entire new cultures. This is an amazing thing. "Readlang" does not say that to me. However, it's a good name for a business interacting with the corporate market I suggested above, so it may not need changing...
Good luck, I think what you're doing is awesome and you should definitely stick with it!