- Shares of Kahoot jumped 28% after the Norwegian company said that General Atlantic had agreed to buy a 15% stake in the company.
- The deal is still subject to the usual rules and regulations, but the company’s market value has dropped by half since January.
- Even so, the company’s market value has dropped by half since January.
Shares of Kahoot went up after the Norwegian company that runs an online school for kids said that General Atlantic had agreed to buy a 15% stake.
On Friday, the Oslo-based company announced that General Atlantic would purchase the share of the company that was previously held by a fund that was owned by a subsidiary of the Japanese conglomerate SoftBank.
On Friday, shares of the Norwegian company went up as much as 28% to NKr23. Even so, the company’s market value has dropped by half since January.
Kahoot said that the partnership with General Atlantic would “accelerate further growth initiatives, drive innovation, and grow its global footprint in homes, schools, and corporations.”
Eilert Hanoa, the CEO of Kahoot, said, “The team at General Atlantic brings deep experience in scaling global education technology and software businesses and positioning market leaders for long-term success.”
Kahoot has online educational quizzes for schools, families, and businesses, as well as a “gamified learning solution” for use at home.
Chris Caulkin, managing director and head of technology for Emea at General Atlantic, said, “Kahoot has significant potential for further growth as digital learning solutions continue to be adopted across its work, school, and home markets.”
The deal is still subject to the usual rules and regulations. The Norwegian company said that Caulkin is likely to join the Kahoot board if the shareholders agree.
