On the back of Disney increasing its shareholding in Oslo-based Kahoot to four percent last week, Kahoot today announced a brand-new initiative that helps to position the famous startup — which already has 60 million games and has seen over 1 billion players engage on its platform over the last year — as the “Netflix for education apps.”
It’s launching Kahoot! Ignite, a brand-new accelerator for like-minded startups that are pushing the boundaries of education through gaming and other means.
In addition to that, Kahoot today also said it would move stock exchanges in its home marketplace of Norway, going from the smaller OTC exchange to the Merkur marketplace, which CEO and co-founder Åsmund Furuseth explained in an interview is also an exchange for independent companies, but one that will be able to provide more transparency to the startup’s bigger investors en path to an eventual full public listing. As of last week’s Disney news, the startup is now valued at $376 million.
Participating in the Ignite accelerator, Furuseth said, will give Kahoot the option to invest in startups in each cohort, and if it makes sense for the startup in request, they will build content that will be usable on the Kahoot platform.
“We have close to $30 million in the bank and are in a financial marketplace where we can get more capital,” he said. “We don’t need to invest, but if we want to, we can.”
The startup today has some 60 million games on its platform, with a good part of those created by users themselves (making it more like a youtube than a netflix). The idea is that bringing in outside developers (in this case, by path of the accelerator) could inject more innovation and fascinating takes on the idea of “educational gaming” — not unlike how Netflix and Amazon engage outside studios to develop originals for its platform, alongside what they develop themselves or purchase in through deals with rights holders.
In addition to the carrots of investment and distribution on the Kahoot platform — which is likely to knocked
100 million monthly active users this month (Furuseth said he was confident of the number today) — Kahoot is benefaction mentorship to potential cohorts in areas like monetization and product development. Given the fact that educational aides can come in all shapes and sizes, that might not take the form of a piece of content for the Kahoot platform.
“Putting something on Kahoot could be an outcome, but we’re also interested in ‘network products,’ which have the same desire to enable learning,” Furuseth said.
The company today has a double focus, with games for K-12 students as well as for enterprise environments. “Learning is the main topic,” he added. “We like to have the mix.”