A start-up Kahoot that works on a popular platform of user-generated educational gaming has raised funds about 15$ Million in the month of October and Disney became the major stakeholder for the company. It can now exercise its power and authority that it warrants.
Now the company has about 60 million games to access on its platform. Kahoot has made an announcement that Disney has made the decision to work out a four percent stake. The stake is worth $376 Million and is based on the price of 28 Norwegian kroner. This decision will give Disney a stake of $15 Million in the app.
The story behind investment was not disclosed by Kahoot. This is a very nice opportunity for a start-up and the valuation of the company increased since October. The other investors apart from Disney include Microsoft and a Nordic investor namely Northzone. The values of the warrants that have been disclosed are higher than the actual amount that Disney is exercising. It is not yet clear in the part, whether the Kahoot stake will allow Disney content to perform more on its platform or is it just for the financial help.
Disney and Kahoot have put Lucasfilm content on Kahoot’s platform, and there are more to go. Disney is now completely immersed itself in the development of gaming and education. It wants to use these as the marketing strategy for many of its brands. The primary focus of such a business is to focus more on the youngsters, it says.
The Disney-themed nights in Trivia, Disneyesque, and many more strategic investment in gaming and education have come up. Similarly, Kahoot has also has worked on its gaming and education concept “lecture quiz”.
The number of users by Kahoot has reached 70 million in January, but the co-founder and CEO Åsmund Furuseth in October claimed it would cross 100 Million by the end of this month. Kahoot is not just an average gaming company. It designs games to improve intelligence and learning in the most entertaining way.
The catalog is available to choose from both public and private. Games which are meant truly for corporate use, are supposed to be kept private and those related to education are public.