Existing investor SoftBank Group to sell full stake in Kahoot! to General
Atlantic

New partnership with global growth investor to further accelerate Kahoot!'s
momentum with customer expansion, product roadmap, and commercialization efforts

Oslo, Norway - September 16, 2022 - Kahoot!, the global learning and engagement
platform company, today announced that General Atlantic, a leading global growth
equity firm, has joined its investor base to support the company's next phase of
expansion. Existing investor SB Northstar LP, a fund managed by a 100% directly
owned subsidiary of SoftBank Group Corp., partner to Kahoot! since 2020, is
selling its full 15% stake in the company to General Atlantic. Upon completion
of the transaction, General Atlantic is expected to become Kahoot!'s largest
shareholder. With a mission of making learning awesome for millions of people
around the world, Kahoot! plans to partner with General Atlantic to accelerate
further growth initiatives, drive innovation, and expand its global footprint in
homes, schools, and corporations. 

Since its founding in 2013, the Kahoot! Group has grown into a multifaceted
offering and a portfolio of leading brands at the intersection of digital
learning and audience engagement. Since launch, the core Kahoot! service has
been used by 8 billion non-unique cumulative participants across the globe. The
engagement and learning platform targets customers across diverse demographics
and application verticals through Kahoot! at Work, used in 97% of Fortune 500
companies for corporate learning and engagement; Kahoot! at School, used by
approximately 9 million teachers in the classroom; Kahoot! at Home & Study, used
by more than 18 million users as an at-home gamified learning solution; and
Kahoot! Academy, an online creator community and marketplace for educational
content. Across verticals, Kahoot! services recorded 28 million active users
globally in the last twelve months. Since 2021, the Group also includes Clever,
a single sign-on EdTech platform and digital classroom, used by approximately
70% of U.S. K-12 schools. With extensive engagement, learning, and content
solutions for home, school, and work, the Kahoot! Group caters to users across
North America, Europe, APAC, LATAM, and MENA.

Eilert Hanoa, CEO of Kahoot!, commented, "We are very grateful to SoftBank for
their partnership over the past two years. As Kahoot! continues to pursue its
mission to improve lifelong learning by building a leading global learning and
engagement platform, we are thrilled to add a partner of General Atlantic's
caliber. The team at GA brings deep experience in scaling global education
technology and software businesses and positioning market leaders for long-term
success, and we look forward to our next phase of momentum in empowering the
learning ecosystem around the world."

Chris Caulkin, Managing Director and Head of Technology for EMEA at General
Atlantic, continued, "We believe Kahoot! has significant potential for further
growth as digital learning solutions continue to be adopted across its work,
school, and home markets. With its much-loved brand, product-centric approach,
and engaged global user base, Kahoot! is well positioned to scale, and we look
forward to supporting Eilert and the full Kahoot! team in the years to come as
they reach and engage ever more users worldwide." 

Closing remains subject to customary regulatory conditions. Following closing
and subject to shareholder approval, Chris Caulkin is expected to join the Board
of Directors.

J.P. Morgan served as financial advisor and Wikborg Rein as legal advisor to
General Atlantic.

About Kahoot! 
Kahoot! is on a mission to make learning awesome! We want to empower everyone,
including children, students, and employees to unlock their full learning
potential. Our learning platform makes it easy for any individual or corporation
to create, share, and host learning sessions that drive compelling engagement.
Launched in 2013, Kahoot!'s vision is to build the leading learning platform in
the world. Since launch, Kahoot! has hosted hundreds of millions of learning
sessions with 8 billion participants (non-unique) in more than 200 countries and
regions. The Kahoot! Group includes Clever, the leading US K-12 EdTech learning
platform, together with the learning apps DragonBox, Poio, Drops, Actimo,
Motimate, and Whiteboard.fi. The Kahoot! Group is headquartered in Oslo, Norway
with offices in the US, the UK, France, Finland, Estonia, Denmark, Spain and
Poland. Kahoot! is listed on the Oslo Stock Exchange under the ticker KAHOT. To
learn more, visit us at kahoot.com. Let's play!

About General Atlantic
General Atlantic is a leading global growth equity firm with more than four
decades of experience providing capital and strategic support for over 445
growth companies throughout its history. Established in 1980 to partner with
visionary entrepreneurs and deliver lasting impact, the firm combines a
collaborative global approach, sector specific expertise, a long-term investment
horizon and a deep understanding of growth drivers to partner with great
entrepreneurs and management teams to scale innovative businesses around the
world. General Atlantic currently has over $73 billion in assets under
management inclusive of all products as of June 30, 2022, and more than 215
investment professionals based in New York, Amsterdam, Beijing, Hong Kong,
Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai,
Singapore, Stamford and Tel Aviv. For more information on General Atlantic,
please visit the website: www.generalatlantic.com.

Company contacts

Kahoot! ASA
Jonas Forslund, Director Investor Relations
Investor@kahoot.com

Eilert Hanoa, CEO
eilerth@kahoot.com 

General Atlantic
Mary Armstrong & Emily Japlon
Media@generalatlantic.com

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange