Kahoot! recently announced that it has completed a private placement to a subsidiary of SoftBank Group, through the issuance of 43,000,000 new shares, raising approximately USD 215 million.
SoftBank's ownership of the newly issued shares represent 9.69% of the total number of shares in Kahoot!.
Kahoot! said that it is experiencing strong momentum and accelerated adoption as enterprises increasingly seek engaging, trustworthy and user-friendly ways to build corporate culture, educate and interact. At the same time, schools and educators are looking to enhance the learning experience, whether virtually or in the classroom. The Company intends to use the net proceeds from the Private Placement to finance accelerated growth through value-creating non-organic opportunities and continue to build a unique platform company.
