Two venture funds sell Kahoot shares for 1.7 billion – Softbank...

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On Wednesday, Kahoot writes in a stock exchange announcement that two venture funds – Northzone VII and Creandum – are selling a total of 27.6 million Kahoot shares distributed as follows:

• Northzone sells half of its holding of 48 million shares, and is thus left with 24 million shares, corresponding to an ownership share of 5.4 percent.
• Creandum sells 3.56 million shares, and is left with 20 million shares, corresponding to an ownership interest of 4.5 percent.

Both funds sold their shares at a price of NOK 61.

Have bought up

At the same time, it appears that Kahoot’s CEO Eilert Hanoa has bought 2.5 million shares in the company through its wholly owned Glitrafjord as. Hanoa now owns 39.2 million shares, corresponding to 8.8 percent.

In addition, the Japanese tech giant Softbank Group – which joined the ownership side in October – has bought five million shares. Softbank now owns 48 million shares, corresponding to a share of 10.8 per cent, and is the company’s largest owner.

Increased market value

The Kahoot shares are listed on Euronext Growth (formerly Merkur Market) in Oslo, and were traded at NOK 64 per share when the stock exchange closed on Tuesday.

The facilitators of the transactions were ABG Sundal Collier asa and Goldman Sachs International.

Kahoot, which is particularly known for its quiz platform of the same name, has experienced enormous user growth during the corona pandemic, and has correspondingly increased its market value considerably.

The company, which had a turnover of $ 9.6 million in the second quarter, has almost tripled its share price during the year, and the share price has risen over 380 percent since the bottom in March.

At the end of the third quarter, monthly subscription revenues were $ 2.7 million, equivalent to $ 25 million a month or $ 375 million a year.

In October this year, it became clear that Kahoot had raised NOK 1.98 billion in a capital raising from Japanese Softbank. This sent the share price – which was then NOK 49.65 – up 15 percent.(Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share our cases using a link, which leads directly to our pages. Copying or other use of all or part of the content may only take place with written permission or as permitted by law. For further terms see here.