![]() However, 15% of Kahoot’s current market cap (10.415 billion Norwegian Krone) works out to about $152 million (1,562,250,000 NOK). This looks like an all-secondary round: no new investment coming in alongside the buyout. ![]() (We’re confirming this with Kahoot and will update as we learn more.) “Kahoot plans to partner with General Atlantic to accelerate further growth initiatives, drive innovation, and expand its global footprint in homes, schools, and corporations,” the company said in a statement. Nevertheless, the deal comes as Kahoot, like many other tech companies, continues to feel the pinch of the general downturn in technology stocks and the wider technology market. A year ago, its shares were trading at 70.25 NOK on the Oslo Stock Exchange. And that is with a bump of nearly 27% that Kahoot had this morning on the news of the investment/divestment. SoftBank, meanwhile, has been in hot water itself, facing up to big losses in its splashy Vision Fund investment vehicles on the back of those wider tech industry doldrums. In August, Vision Fund I reported a loss of over $17 billion for just one quarter (Q1). Vision Fund 2 is reportedly down in value by some 19% on the funds that have been invested so far. (It’s still working on a Vision Fund 3 though, so never say die in the world of tech.) Amid layoffs and big executive changes, no surprise, then, that it is now divesting stakes that are underperforming. “We are very grateful to SoftBank for their partnership over the past two years. As Kahoot! continues to pursue its mission to improve lifelong learning by building a leading global learning and engagement platform, we are thrilled to add a partner of General Atlantic’s caliber,” Eilert Hanoa, CEO of Kahoot, said in a statement.
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