News and announcements

This page provides an overview of Kahoot!’s recent announcements. Stay up-to-date with our latest news!

Shortcut to announcements: 20192018

Latest news: Kahoot! releases third quarter results

Q3 2019 was another strong quarter and reflects focused execution by the Kahoot! team now also including the acquired units Dragonbox and Poio. In total Kahoot grew invoiced revenue in Q3 2019 to $3.4 million, a 269% year-over-year growth. The organic quarter-over-quarter growth for Kahoot was 42% in Q3 2019 vs Q2 2019 supported by an organic 140% quarter-over-quarter growth for the Kahoot School segment. Download the Q3 report and the Q3 presentation or watch the recording of the webcast.

2019 announcements

Presentation of Kahoot!'s third quarter results

Kahoot! released the third quarter results at 8:30 AM (CET) on Wednesday 30 October 2019. The report and presentation is available at newsweb.no and kahoot.com/investor. The Company held a webcast at 8:30 AM (CET) to present the quarterly results. The webcast replay is available on our Investor Relations page.

For further information, please contact:

Julie Wessel, IR
Phone: +47 993 72 451
Email: julie@kahoot.com

Martin Kværnstuen, CFO
Phone: +47 930 14 547
Email: martink@kahoot.com

Kahoot! AS: Successfully completed private placement (10/22/2019)

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR ANYOTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Kahoot! AS (the “Company”) today announces that it today has carried out a private placement of 7,750,000 shares (the “Offer Shares”) (the “Private Placement”). 1,750,000 of the shares offered in the Private Placement is a sale of shares following exercise of fully vested employee options. The transaction was directed towards Norwegian and international investors, subject to applicable exemptions from relevant registration, filing and prospectus requirements, and subject to other applicable selling restrictions. The price in the Private Placement was NOK 38.00 per share.

Kahoot! AS has recently received considerable investor demand and was on 21 October 2019 approached with an investment offer by a consortium of Nordic and international investors. The Company chose to accept the offer as it sees strategic value creative opportunities and engaged ABG Sundal Collier ASA and Arctic Securities AS (the “Managers”) to manage the process.

Through the Private Placement, the Company raised approximately NOK 228 million (approximately USD 25m) in gross proceeds from the issuance of new shares to investors and approximately NOK 8.8 million (approximately USD 0.95m) from the exercise of employee options. The net proceeds from the Private Placement will be used to further grow the Company, including allowing the Company to pursue value-creating non-organic opportunities.

In addition to the 1,750,000 option shares comprised by the private placement, another 20,000 share options have been exercised. The issuance of the Offer Shares and the 20,000 additional option shares was resolved by the Company’s Board of Directors in accordance with authorisations granted by Company’s Annual General Meeting held on 28 June 2018. The Company’s share capital following the Private Placement will be NOK 12,935,949.60 divided into 129,359,496 shares, each with a nominal value of NOK 0.10.

The Private Placement will be settled with existing and unencumbered shares in the Company, pursuant to a share lending agreement between ABG Sundal Collier ASA (on behalf of the Managers), Datum AS and the Company. The shares delivered to the subscribers will thus be tradable from allocation. The Managers will settle the share loan with new shares in the Company.

The Board is of the opinion that the Private Placement complies with the equal treatment obligations under the Continuing obligations of companies admitted to trading on Merkur Market and Oslo Børs’ Circular no. 2/2014, in particular due to the fact that (i) in the current market, a private placement had a larger possibility of success compared to a rights issue and, therefore, gives the Company timely access to the new capital at lower risk; (ii) the cost of raising capital is assumed to be lower than in a rights issue since any discount is likely to be smaller and underwriting commissions are avoided, and (iii) the Company’s shareholder base is strengthened by increased ownership among large institutional investors. On this basis, and based on an assessment of the current equity markets, the Company’s Board of Directors has considered the Private Placement to be in the common interest of the Company and its shareholders. As a consequence of the Private Placement structure, the shareholders’ preferential rights were deviated from. The Company will not conduct a subsequent repair offering.

The following primary insiders participate in the sale of employee option shares with 200,000 shares each CEO Åsmund Furuseth, CFO Martin Kværnstuen and CTO Morten Versvik. All shares had a strike price of NOK 5 per share. Subsequent to the transaction, Åsmund Furuseth will own 3,052,000 shares through Newbrott AS and 200,000 share options, Martin Kværnstuen will own 4,779,020 shares through KAM Holding AS and 300,000 options and Morten Versvik will own 4,620,692 shares through Versvik Invest AS and 300,000 options.

For further information, please contact:

Eilert Hanoa, Chairman
Phone: +47 92 83 29 05
Email: eilerth@kahoot.com

Martin Kværnstuen, CFO
Phone: +47 930 14 547
Email: martink@kahoot.com

About Kahoot! AS
Kahoot! is a global learning platform that makes it easy to create, share and play games or trivia quizzes. Kahoot! is used in different settings – in schools, corporations, social settings and cultural events. In 2018, Kahoot! had over one billion participating players in more than 200 countries. Kahoot! is on a mission to make learning awesome and build the leading learning platform in the world that connects its users to premium content and features. The company is headquartered in Norway.

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.

Important information: The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia). This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “US Securities Act”). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act. The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this announcement are not being made and may not be distributed or sent into Australia, Canada, Japan or the United States.

The issue, subscription or purchase of shares in the Company is subject to specific legal or regulatory restrictions in certain jurisdictions. Neither the Company nor the Managers assume any responsibility in the event there is a violation by any person of such restrictions.

The distribution of this release may in certain jurisdictions be restricted by law. Persons into whose possession this release comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

The Managers are acting for the Company and no one else in connection with the Private Placement and will not be responsible to anyone other than the Company providing the protections afforded to their respective clients or for providing advice in relation to the Private Placement and/or any other matter referred to in this release.

Forward-looking statements:
This release and any materials distributed in connection with this release may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company’s current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.

Kahoot! AS - Investor presentation including Q2 2019 (10/10/2019)

Kahoot! had an Q2 investor presentation on September 18th 2019 including financial outlook and product roadmaps. Attached is the updated company presentation with shareholder list per October 7th and updated active Kahoot! accounts last twelve months per September 30th. Download presentation

Completion of the acquisition of Poio (8/22/2019)

Reference is made to the Kahoot! AS’ announcement made on May 15, 2019, regarding the acquisition of all shares in Poio AS. The acquisition has now been completed and the total consideration of MNOK 56.2 has been settled by a combination of cash and new Kahoot! shares. Board of Directors of Kahoot! has resolved to increase the share capital of Kahoot! with NOK 138,366 by the issuance of 1,383,660 consideration shares to the Poio shareholders at a subscription price of NOK 25 in accordance with the share purchase agreement. The Poio shareholders have entered into lock-up agreements with Kahoot! pursuant to which the consideration shares are subject to lock-up for up to two years from completion of the acquisition. Following this share issue there will be 117,720,860 issued and outstanding shares in Kahoot!.

Read the full announcement at notc.no

Annual General Meeting of Kahoot! AS (6/21/2019)

Please find attached Kahoot! AS’s Notice of Annual General Meeting to be held 28 June 2019. Download notice

Please find attached Annual Accounts Kahoot! AS 2018. Download accounts

Shareholders that are prevented from attending the general meeting may be represented by proxy. Download proxy

Company update June 2019 (06/12/2019)

Please see attached Kahoot! Company Update presentation held on June 12, 2019. Download presentation

Notice to market 05/15/19: Kahoot! and Poio join forces to empower all children to learn to read through play

Oslo, Norway, May 15, 2019 – Kahoot!, the global learning platform, today announced its acquisition of Poio, the acclaimed learn-to-read app for all children. In record time, Poio has created a unique community in Scandinavia, helping more than 100,000 children to learn to read through play. In June, Kahoot! and Poio will launch the English edition of Poio, and make it available to all Kahoot!’s users world-wide.

The transaction is based on Kahoot! acquiring 100% of the shares in Poio AS for a total consideration of approx. USD 6.5 million on a cash and debt-free basis. The consideration will be settled by a combination of cash and new Kahoot! shares at a subscription price of NOK 25 per share. The transaction is expected to be completed by the end of June 2019.

Read full notice to market

Notice to the market 05/09/2019: Kahoot! acquires DragonBox, joining forces to create an awesome math learning experience for all

Oslo, Norway, May 9, 2019 – Kahoot!, the global learning platform, today announced its acquisition of DragonBox, the award-winning game-based learning studio and maker of the popular DragonBox family of math apps. The two learning communities combined, bring together DragonBox’s engaging math apps and Kahoot!’s hundreds of millions of users world-wide.

The transaction is based on Kahoot! acquiring 100% of the shares in WeWantToKnow AS for a total consideration of approx. USD 18 million on a cash and debt free basis. The consideration will be settled by a combination of cash and new Kahoot! shares at a subscription price of NOK 25 per share. The transaction is expected to be completed ultimo June 2019.

Read full notice to market

Company update March 2019 (03/28/2019)

Please see attached Kahoot! Company Update presentation held on March 28, 2019. Download presentation

2018 announcements

Company update December 2018 (12/17/2018)

Please see attached Kahoot! Company Update presentation held December 17th 2018. Download presentation

Notice of exercise of warrants to Accelerator Investments LLC (12/14/2018)

On 11 July 2017, the Company entered into a warrant agreement with Accelerator Investments LLC (the “Warrant Holder”) pursuant to which the Warrant Holder was granted 225,000 warrants (the “Warrants”) on the terms and conditions set out in the warrant agreement. Each Warrant gives the Warrant Holder the right, but not the obligation, to claim the issuance of one – 1 – share in the Company with a nominal value of NOK 0.10 at a price of NOK 100 per share.

As the Company completed a share capital increase by way of a bonus issue in July 2018, whereby existing shareholders were allocated 19 new shares for each share held, the number of Warrants and the strike price must be adjusted accordingly. Following the bonus issue, the Warranty Holder is accordingly entitled to 4,500,000 Warrants, each giving the right to subscribe for one – 1 – share in the Company with a nominal value of NOK 0.10 at a price of NOK 5 per share.

On 13 December 2018, the Company received a notice of exercise of all of the Warrants by the Warrant Holder.

After the exercise the Accelerator Investment LLC will own 4,670,000 shares in Kahoot! AS. representing 4.0% of the capital in the Company.

The Company’s share capital following the exercise of warrants will be NOK 11,558,220 divided into 115,582,200 shares, each with a nominal value of NOK 0.10. Read the full announcement at notc.no.

Private placement completed (10/10/2018)

Kahoot! AS (the “Company”) today announces that the Company has successfully completed a private placement with gross proceeds of NOK 126.5 million (approx. USD 15 million) through the subscription of 5,500,000 shares (the “New Shares”), at a subscription price of NOK 23.0 per share (“the Private Placement”). The Private Placement was substantially oversubscribed by new high-quality institutional investors as well as large existing shareholders. ABG Sundal Collier and Arctic Securities acted as Joint Lead Managers and Joint Bookrunners for the Private Placement.

The net proceeds from the Private Placement, which represents approximately 5.2% of the current outstanding share capital, will be used to further grow the Company, including allowing the Company to pursue value-creating non-organic opportunities. Read the full announcement at notc.no.

Company update September 2018 (09/21/2018)

Please see attached Kahoot! Company Update from the strategic update and the Q2 results presentation held September 21st 2018. Download presentation

Share split in Kahoot! AS - key dates announcement (7/18/2018)

At the annual general meeting of Kahoot! 28 June 2018 a decision was passed to increase share capital by way of transfer from other equity (bonus issue).

The share capital was increased by issuing 100,303,090 new shares. The new shares will be allocated to the shareholders pro rata according to their current shareholding (i.e., shareholders will receive 19 new shares for each of their current shares).

Last day for the Kahoot-share before the share split is Tuesday 17 July 2018. First day after the share split is Wednesday 18 July 2018 (Ex date).

Record date is Thursday 19 July 2018

Date of approval: 28 June 2018

Minutes from the Annual General Meeting of Kahoot! AS (6/28/2018)

Please find attached the minutes from the Annual General Meeting of Kahoot! AS. Download minutes

Annual General Meeting of Kahoot! AS (6/22/2018)

Please find attached Kahoot! AS’s Notice of Annual General Meeting to be held 28 June 2018. Download notice

Please find attached Annual Accounts Kahoot! AS 2017. Download accounts

Shareholders that are prevented from attending the general meeting may be represented by proxy. Download proxy

Company update June 2018 (6/6/2018)

Please see Kahoot! Company Update from the investor presentation held on June 6, 2018: download presentation.

Kahoot! on the NOTC list (5/25/2018)

Kahoot! AS is registered on the NOTC-list as of 25 May 2018 with ticker code “KAHOOT”. The Company has issued 5,279,110 common shares each with a par value NOK 0.10, all of which are registered in VPS with ISIN code NO0010823131. Based on the last share issue completed on 9 April 2018, the market capitalization of the Company is NOK 791,866,500. (NOK 150 per share). The Company has entered into an agreement with NOTC AS whereby it will be able to use the reporting system as of 25 May 2018.