Softbank invests $215M in learning platform Kahoot
Summary
Japanese multinational conglomerate holding company SoftBank Group Corp. announced on Tuesday it has invested $215 million in Norwegian education start-up Kahoot acquiring a 9.7% stake in the company. According to Softbank, the need for online learning platforms jumped due to coronavirus pandemic induced lockdowns. Kahoot’s CEO Eilert Hanoa told CNBC that the company sold 43 million new shares at a price of 46 Norwegian kroner ($5) per share to SoftBank and that it plans to use these funds to pursue new partnerships, joint ventures and acquisitions. Hanoa added the company also plans to launch an initial public offering on Norway’s main stock market in early 2021.
Funding
Amount
$215.0M
Total raised
Date
October 13, 2020
Announcement date
Investors
Kahoot!, SoftBank Internet and Media, Inc.
Lead investors
Company
http://www.kahoot.com
Funded company
Classifications
industries
EduTech - institutions
applications
EduTech - learning
AskAI Classifications
Labels
SaaS
EdTech Software
Learning Management Systems
Linked Companies
Kahoot! Trust Center
$50M to $100M