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SoftBank invests $215 million in education start-up Kahoot as coronavirus boosts e-learning

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  • Norwegian education platform Kahoot announced Tuesday that it’s raised $215 million from SoftBank.
  • It plans to use the fresh funds to fuel growth through new partnerships, joint ventures and acquisitions.
  • Educational technology, or “edtech,” has flourished this year due to the coronavirus pandemic.



Masayoshi Son wearing a suit and tie smiling at the camera: Masayoshi Son, chairman and chief executive officer of SoftBank Group Corp., reacts during a dialog session with Jack Ma, former chairman of Alibaba Group Holding Ltd., not pictured, at Tokyo Forum 2019 in Tokyo, Japan, on Friday, Dec. 6, 2019.


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Masayoshi Son, chairman and chief executive officer of SoftBank Group Corp., reacts during a dialog session with Jack Ma, former chairman of Alibaba Group Holding Ltd., not pictured, at Tokyo Forum 2019 in Tokyo, Japan, on Friday, Dec. 6, 2019.

LONDON — SoftBank has invested $215 million in Norwegian education start-up Kahoot, taking a 9.7% stake in the company, as demand for online learning platforms skyrockets during the coronavirus pandemic.

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The Oslo-based firm said Tuesday it had agreed to sell 43 million new shares at a price of 46 Norwegian krone — or about $5 — per share to SoftBank. It plans to use funds raised from the deal to fuel growth through new partnerships, joint ventures and acquisitions, CEO Eilert Hanoa told CNBC.

“It’s all about the general switch in mindset from digital tools being a nice-to-have additional set of features in schools and classrooms, to being maybe the most important toolkit they can use to create engagement,” Hanoa said in an interview Tuesday.

Founded in 2012, Kahoot is a game-based learning service that lets players create and take part in multiple-choice quizzes. One side of the business focuses on schools and home learning, while the other centers on corporate clients looking to make training sessions and presentations.

How the pandemic fast-tracked the multibillion-dollar education technology industry

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Educational technology, or “edtech,” has flourished this year as the coronavirus pandemic forced schools to close and increased demand for remote learning software. That’s grabbed the attention of