SoftBank invests $215 million in education start-up Kahoot as coronavirus boosts e-learning

  • Norwegian education platform Kahoot announced Tuesday that it’s raised $215 million from SoftBank.
  • It plans to use the fresh funds to fuel growth through new partnerships, joint ventures and acquisitions.
  • Educational technology, or “edtech,” has flourished this year due to the coronavirus pandemic.



Masayoshi Son wearing a suit and tie smiling at the camera: Masayoshi Son, chairman and chief executive officer of SoftBank Group Corp., reacts during a dialog session with Jack Ma, former chairman of Alibaba Group Holding Ltd., not pictured, at Tokyo Forum 2019 in Tokyo, Japan, on Friday, Dec. 6, 2019.


© Provided by CNBC
Masayoshi Son, chairman and chief executive officer of SoftBank Group Corp., reacts during a dialog session with Jack Ma, former chairman of Alibaba Group Holding Ltd., not pictured, at Tokyo Forum 2019 in Tokyo, Japan, on Friday, Dec. 6, 2019.

LONDON — SoftBank has invested $215 million in Norwegian education start-up Kahoot, taking a 9.7% stake in the company, as demand for online learning platforms skyrockets during the coronavirus pandemic.

Loading...

Load Error

The Oslo-based firm said Tuesday it had agreed to sell 43 million new shares at a price of 46 Norwegian krone — or about $5 — per share to SoftBank. It

Read More

SoftBank invests $215 million in education start-up Kahoot

Masayoshi Son, chairman and chief executive officer of SoftBank Group Corp., reacts during a dialog session with Jack Ma, former chairman of Alibaba Group Holding Ltd., not pictured, at Tokyo Forum 2019 in Tokyo, Japan, on Friday, Dec. 6, 2019.

Kiyoshi Ota | Bloomberg via Getty Images

LONDON — SoftBank has invested $215 million in Norwegian education start-up Kahoot, taking a 9.7% stake in the company, as demand for online learning platforms skyrockets during the coronavirus pandemic.

The Oslo-based firm said Tuesday it had agreed to sell 43 million new shares at a price of 46 Norwegian krone — or about $5 — per share to SoftBank. It plans to use funds raised from the deal to fuel growth through new partnerships, joint ventures and acquisitions, CEO Eilert Hanoa told CNBC.

“It’s all about the general switch in mindset from digital tools being a nice-to-have additional set of features in

Read More

Kahoot picks up $215M from SoftBank for its user-generated, gamified e-learning platform

After announcing a modest $28 million raise earlier this year, the user-generated gamified e-learning platform Kahoot today announced a much bigger round to double down on the current surge in demand for remote education.

The Norwegian startup — which has clocked 1.3 billion “participating players” since launching in 2013 — has picked up $215 million from SoftBank, specifically by way of a “private placement to a subsidiary of SoftBank Group Corp., through issuance of 43,000,000 new shares.” The placement was made at 46 Norwegian Krone per share, working out to NOK1,978 million (or $215 million), and the funding will be used for acquisitions and also to continue its expansion.

Kahoot is traded on the Merkur Market in Oslo — a stepping stone between being a fully private startup and a publicly-listed company — and today the company is trading more than 15% up on the news. At market open today,

Read More