Goldman Sachs Asset Management is leading a $1.7 billion acquisition proposal for Kahoot, the popular gamified e-learning platform. The all-cash deal includes significant existing stakeholders such as General Atlantic, LEGO Group’s KIRKBI Invest A/S, and Glitrafjord, which is managed by Kahoot CEO Eilert Hanoa. Additionally, unnamed investors and management team members will retain shares in the company. If successful, Goldman Sachs aims to accelerate Kahoot’s global growth and expansion to capitalize on the increasing demand for e-learning tools due to remote and hybrid learning trends. The deal, subject to customary closing conditions and regulatory approvals, would mark a significant milestone in Kahoot’s mission to transform the digital learning landscape.
Oslo-based start-up Kahoot offers a widely-used platform for creating, distributing, and participating in educational games, engaging billions of learners and adults worldwide. Based on 492,836,049 issued and outstanding shares, the acquisition proposal values the company at 17.2 billion Norwegian kroner ($1.7 billion). This presents a significant opportunity for Kahoot to expand its reach and enhance its educational gaming offerings, solidifying its position as a leading player in the EdTech industry and continuing to revolutionize how people learn and engage with educational content.
Shareholder approval is required for the acquisition, and the process is currently underway. Once shareholders consent, the acquisition will progress smoothly, paving the way for a potentially successful business collaboration. This step is critical to ensure all parties involved support the proposed merger.
Kahoot has hosted numerous learning sessions for nine billion attendees across more than 200 countries and regions, serving over one million paying customers. The interactive platform has transformed both classrooms and remote education environments by engaging participants with quizzes and games that promote understanding and knowledge retention. Kahoot has consistently received praise from teachers and learners for fostering collaboration, increasing motivation, and creating an enjoyable educational atmosphere.
In Q2 2023, the company reported $41 million in revenue, up 14% from the previous year, and an EBITDA of $11 million, a 60% increase. These significant rises in both revenue and EBITDA showcase Kahoot’s strong financial performance and growth potential during this period. Market analysts predict continued positive trends, leading to further expansion and investor interest in the coming months.
By the end of Q2 2023, Kahoot held cash and cash equivalents of $96 million, reflecting the company’s financial stability and capacity for further growth opportunities. As cash flow remains strong, EdTech enthusiasts can expect accelerated expansion, improved products, and potential acquisitions in the near future.
During the Covid-19 pandemic, the company’s valuation reached a peak of 109 NOK per share. This unprecedented surge can be attributed to the growing demand for remote work solutions and Kahoot’s ability to adapt swiftly during challenging times. Investors have demonstrated confidence in the company’s resilience and innovation, further propelling its market value.
Frequently Asked Questions
What is the acquisition proposal for Kahoot?
Goldman Sachs Asset Management’s private equity division is leading a $1.7 billion all-cash acquisition proposal for Kahoot, the popular gamified e-learning platform. The deal would include significant existing stakeholders such as General Atlantic, LEGO Group’s KIRKBI Invest A/S, and Glitrafjord, which is managed by Kahoot CEO Eilert Hanoa.
What are the goals of the acquisition?
If successful, Goldman Sachs aims to accelerate Kahoot’s global growth and expansion to capitalize on the increasing demand for e-learning tools due to remote and hybrid learning trends.
What is the current status of the acquisition?
The deal is subject to customary closing conditions and regulatory approvals. Shareholder approval is required for the acquisition, and the approval process is currently underway. Once shareholders consent, the acquisition will progress smoothly.
How has Kahoot performed during the Covid-19 pandemic?
During the pandemic, Kahoot’s valuation reached a peak of 109 NOK per share due to the growing demand for remote work solutions and their ability to adapt swiftly during challenging times. The company reported a revenue of $41 million in Q2 2023, up 14% from the previous year, and an EBITDA of $11 million, a 60% increase.
How has Kahoot impacted the global educational landscape?
Kahoot has hosted numerous learning sessions for nine billion attendees across more than 200 countries and regions, serving over one million paying customers. The interactive platform has transformed both classrooms and remote education environments by engaging participants with quizzes and games that promote understanding and knowledge retention.
First Reported on: techcrunch.com
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