About Each Business
Kahoot! is a Norwegian global learning company that utilizes game-based methods to make educational programs easier and more fun in school for students and educators and even for corporate training programs. The business created an app that is accessible anywhere where there is an internet connection.
According to Kahoot!, since the company launched in 2013, there have been more than 5 billion players cumulatively playing on the app. In addition, roughly 250 million games were played on the app in the last 12 months. Represented in more than 200 countries, the business claims that half of United States (US) teachers and students played a game on Kahoot! in the past year.
Clever is an American edtech startup company that created a digital education app for educators, students, and parents. The edtech business developed a K-12 education single sign-on platform that allows families, students, and teachers to build and engage in digital education classrooms.
The startup company claims that more than 60% of K-12 US schools use its platform, including 95 of the nation’s 100 largest school districts. This amounts to 15 million students nationwide logging into the Clever app. Furthermore, Clever is partnered with more than 600 global education providers, including Khan Academy, McGraw Hill, and most recently, Google Classroom. Crunchbase data indicates the edtech business has raised $43.3 million in total financing.
In a press release, Kahoot! announced it will acquire Clever in a deal that values the education startup at between $435 million and $500 million. The education app company will acquire 100% of Clever shares. Additionally, the deal consists of a combination of cash and Kahoot! shares.
Tyler Bosmeny, CEO and co-founder of Clever, said in a statement, “We founded Clever because we believed that technology can be a powerful lever to make learning more joyful and engaging – and no one embodies that more than Kahoot!...Being part of the Kahoot! family will give us the opportunity to not only continue our mission, but to accelerate our plans to serve international markets.”
The edtech startup added that it is projected to reach $44 million in billed revenues in 2021 after experiencing an annual revenue growth rate of around a 25% CAGR in the last three years. Furthermore, the business is cash flow neutral as all cash is reinvested into Clever offerings.
As a result of this acquisition, Clever will be wholly owned by Kahoot!. However, the edtech startup will still operate independently. Additionally, Kahoot! will help accelerate the global expansion of Clever’s solutions.
Moreover, the companies will work together to further their shared vision of making education accessible and fun for everyone. This acquisition also propels Kahoot!’s vision of becoming the world’s leading education platform.
Although the acquisition deal is still subject to regulatory approval, the transaction is expected to close in the second quarter of 2021.
About the Author
McKenzie Carpenter is a graduate of Central Michigan University with a B.A.A. in Integrative Public Relations and French. McKenzie has previously worked for small businesses and nonprofit organizations.