Gaming Education Platform Kahoot Acquired for $1.7 Billion

Norway-based online education platform Kahoot was acquired by General Atlantic, Lego Group and Goldman Sachs for $1.7 billion. General Atlantic, Lego Group and Goldman Sachs acquired Kahoot in exchange for a cash payment. In the agreement regarding the acquisition, it was stated that the online education platform was valued at 3.47 dollars per share.

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Kahoot Peaked in 2021

Its shares in the online education platform are currently publicly listed on the Oslo Stock Exchange. After the deal is finalized, the startup will become a private company again. General Atlantic, Lego Group and Goldman Sachs will become majority shareholders in the online education platform. In addition to these three, Kahoot CEO Eilert Hanoa will also be a shareholder in the startup.

The Kahoot platform is used in more than 200 countries. 9 billion people participated in millions of lessons. The number of paid users has exceeded 1 million. The initiative, which started to operate in Turkey during the pandemic period, is very strong especially in the edtech field. Despite its great value for the future, the deal with the aforementioned trio was a bit weak. The trio makes it clear that their plans for Kahoot are not clear with the 1.7 billion dollar deal.