After DragonBox, Kahoot Acquires Reading App Poio To Expand Its Learning Community
Kahoot acquires reading app Poio for $6.5 million to expand its learning platform
Kahoot — game-based learning platform — seems to have expanded their learning community by acquiring a reading app Poio for $6.5 million. It is to be noted that Kahoot is on an acquisition spree as it has not been more than 10 days they had announced its purchase of DragonBox — a startup that builds math apps for approximately $18 million dollars.
It is to be noted that Poio has created a learning community in Scandinavia, with an aim to help over 1 lakh children to learn through the game. As per the report, both Kahoot and Poio will launch the English edition of Poio and together and make it available to Kahoot’s hundreds of millions of users worldwide.
Kahoot is reported to have acquired 100 per cent shared in Poio AS for $6.5 million in cash and debt-free basis. The consideration will be settled by a combination of cash and new Kahoot shares at a subscription price of NOK 25 per share. The transaction is likely to be finished by the end of June 2019.
By this acquisition, Poio will be a part of the Kahoot learning experience, next to school curricula and the DragonBox family of math apps. Kahoot now has a combined 85 employees, including six from Poio.
Today, the Norwegian company is announcing its acquisition of Poio, also based in Oslo, for an undisclosed sum. Poio has developed a novel way to teach children how to read through the play, managing to grow a community of 100,000 children in Scandinavia alone.
“There is only one goal for Poio, and that is to help as many children as possible to crack the reading code through play,” said Daniel Senn, CEO and founder of Poio.
“By teaming up with Kahoot!, we will be able to launch Poio in more languages and with new functionality, bringing the joy of reading to millions of children around the world,” he added.
“Mastering reading and math is fundamental for all children to succeed in life. Together with Poio learn-to-read app and Dragonbox math apps, we will make the best learning experiences available for Kahoot!’s hundreds of millions of users around the world, inside and outside the classroom,” said Eilert Hanoa, Chairman of Kahoot!.