Money Buzz! Europa

Tag: Kahoot!

  • Kahoot! acquires Drops, one of the world’s fastest growing language platforms

    Kahoot! acquires Drops, one of the world’s fastest growing language platforms

    Kahoot! announced the acquisition of Drops, one of the fastest growing language platforms in the world.

    Kahoot! is acquiring 100% of the shares in Drops for a total consideration reflecting an enterprise value of USD 31 million on a cash and debt-free basis, in addition to a performance-based element up to USD 19 million depending on Drops performance in 2020-2022.

    The consideration will be settled in a combination of cash and Kahoot! shares.

    Drops is one of the fastest-growing language platforms in the world, with 42 languages and 25 million users since launch and counting.

    In 2018, Google named Drops the best app of the year, and in 2019 Fast Company named Drops as one of the top 10 most innovative education companies in the world.

    For 2019, Drops reported gross revenue of EUR 6.3m with approx. 40% cash conversion.

    Language learning has exploded

    Language learning has exploded due to globalization as well as, more recently, due to the surge in e-learning as businesses and schools adapt to remote learning.

    As a result, the global digital language learning market size is expected to reach more than $8 billion by 2025.

  • Kahoot! is acquiring 100% of the shares in Actimo

    Kahoot! is acquiring 100% of the shares in Actimo

    Kahoot! is acquiring 100% of the shares in Actimo ApS for a total of USD 26-33 million on a cash and debt-free basis, to be settled in a combination of cash and shares, including a performance-based element.

    Completion of the transaction is subject to customary conditions and the transaction is expected to be completed in October 2020.

    Actimo enhances Kahoot!’s corporate learning and engagement tools by combining the features of employee engagement from the Actimo platform with the learning approach, scale and reach of Kahoot!.

    Kahoot! will continue to develop new services and solutions, and together with Actimo extend Kahoot! 360, the company’s product for corporate learning scaled to enterprise, to fit the needs of today’s HR, learning and development roles, and internal communications teams.

    In the last 12 months, more than one billion participating players in over 200 countries attended over 200 million Kahoot! sessions.

    In the last 12 months, corporations and organizations around the world, including 97% of Fortune 500 companies, used Kahoot! at work to make learning awesome – with more than 2 million sessions and over 20 million participating players.

  • Kahoot! raises $28 million in new equity to fuel growth

    Kahoot! raises $28 million in new equity to fuel growth

    Kahoot!, an Oslo based learning platform company, announced that has raised a gross amount of $28 million in new equity through a private placement of 7.5 million new shares.

    The private placement also comprised 16.5 million existing shares and amounted to $90 million in total.

    The private placement attracted very strong interest from institutional investors in Norway and internationally and was multiple times over-subscribed.

    Both CEO Eilert Hanoa and Northzone Ventures, one of Kahoot!s largest shareholders, participated in the investment round.

    The additional capital will help fuel further growth

    The additional capital will help to continue expansion of its game-based learning platform to all segments — whether it be organizations, educational institutions or families at home.

    Kahoot! also plans to invest further in research and development, product innovations, as well as expansion through value-creating strategic expansion opportunities.

    Kahoot! had more than a billion participating players in over 200 countries in the last 12 months

    Kahoot!’s game-based learning platform makes it easy to create, share and play fun learning games in minutes.

    In the last 12 months, the platform had more than a billion participating players in over 200 countries. More than 50% of K-12 students and teachers use Kahoot! during a school year.

    In addition, 87% of global top 500 universities and 97% of Fortune 500 companies use Kahoot! to make learning awesome.

    19 million active accounts on the platform

    In its latest mid-year update, the company had 19 million active accounts and 260,000 paid subscriptions, that included teachers and professionals.

    To date, the company has raised over $110 million.