Connect with us

Market

SoftBank Pours $215M in Gamified E-Learning Platform Kahoot

Published

on


SoftBank acquired nearly 10% in the Norweigen ed-tech startup Kahoot that offers a gamified e-learning experience to users. The platform has seen massive growth in 2020 and plans to go public by the next year.

With the coronavirus pandemic shutting schools and colleges across the world e-learning ed-tech platforms have gained huge momentum. On Tuesday, October 13, SoftBank made a $215 fresh investment in Oslo-based education startup Kahoot.

Reportedly, SoftBank acquired a 9.7% stake in the company by buying 43 million news shares at $5 per share. Kahoot said that it will deploy these funds in upgrading the virtual learning experience on its platform. Besides, the funds from Softbank will also help Kahoot to fuel growth via joint ventures, acquisitions, and partnerships. In its official statement, the startup also stated:

“Kahoot! is experiencing strong momentum and accelerated adoption as enterprises increasingly seek engaging, trustworthy and user-friendly ways to build corporate culture, educate and interact”.

Founded in 2012, Kahoot is a gamified e-learning platform that allows players to create and participate in multiple-choice quizzes. Over the last 12 months, Kahoot has clocked over 1.3 billion “participating players” worldwide.

One part of Kahoot’s business focuses on home learnings and schools while the other part focuses on corporate clients for training sessions and presentations. Speaking to CNBC, Kahoot CEO Eilert Hanoa said:

“It’s all about the general switch in mindset from digital tools being a nice-to-have additional set of features in schools and classrooms, to being maybe the most important toolkit they can use to create engagement”.

Ed-Tech Startups Gaining Huge Traction

EdTech or Educational Technology has been growing over the last few years as demand for virtual e-learning platforms rises. The Coronavirus pandemic further fueled the growth with schools and colleges turning online. Thus, the industry is also getting huge attention from big players in the market.

Kahoot has been on a roll this year. This is the second-big fundraise in months after securing $28 million earlier in June 2020. Since the beginning of 2020, Kahoot’s share price has also appreciated by a whopping 150%. The CEO said that the company is planning for a full public listing on the Norwegian stock market in 2021. He told CNBC:

“We’ve already accumulated approximately 8,000 new shareholders. We believe that, by doing a re-IPO on the main list on the Oslo Stock Exchange, we could extend the investor base even further.”

Well, this investment can also be a good hedge for SoftBank after its failed investments in Uber and WeWork. The coronavirus pandemic made things worst for the two unicorn startups. On the other hand, SoftBank has also been on the move for consolidating its investment portfolio in the market. Last month, SoftBank sold its stake in British semi-conductor giant Arm Holdings, to Nvidia in a deal worth $40 billion.

Business News, Investors News, News, Technology News

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Market

High DeFi Yields Threat to ETH 2.0 Staking, Says ConsenSys 

Published

on

By


ConsenSys expects DeFi providers and protocols to be fair enough and provide liquid tokens that resonate with the ETH value that an investor stakes.

According to ConsenSys‘s latest Q3 DeFi report, the surge of DeFi and its high yielding liquidity provision opportunities could, in the future, be a barrier to participants who want to stake as soon as ETH 2.0 Phase 0 is unveiled. Better earning opportunities that are found on decentralized finance protocols may limit staking on Beacon Chain, Ethereum’s forthcoming project. Beacon Chain launch could take place within the next six to eight weeks since the ETH 2.0 deposit contract launch is almost near, according to Ben Edgington, developer of ConsenSys.

ETH Holders Should Get Better Staking than DeFi Returns

Last week, Edgington revealed the Ethereum 2.0’s deposit contract address feature is the last “missing link” needed to enable participants to send ETH between both Ethereum and ETH 2.0. Through the new proof-of-stake consensus mechanism, holders of more than 31 ETH will benefit from various staking opportunities, but scaling improvements would not come that soon.

ETH holders will, for a currently unspecified period, have to lock up their funds in a deposit contract in order to gain a variable return – and that is where the challenge arises. DeFi protocols competing to give Ethereum holders greater returns for liquidity are on the increase. As a result, ETH 2.0 would be denied from reaching the staked ETH threshold required for rendering it sufficiently decentralized and secure.

 The report warned as follows:

“It is not unreasonable to worry that ETH holders would (at best) wait to see how early staking returns compare to DeFi returns, or (at worst) decide altogether not to ‘risk’ locking up ETH until Phase 1.5 (which is likely at least a year away) in case another similar bull run occurs in the meantime.

ConsenSys expects DeFi providers and protocols to be fair enough and provide liquid tokens that resonate with the ETH value that an investor stakes. The token might be easily presented or be redeemable as collateral for other protocols leaving the ETH staked on Beacon Chain to remain locked away for some time.

On Sunday, ConsenSys Codefi, a firm that facilitates tokenization and trading, DeFi products, said that it plans to collaborate with Protocol Labs to unveil a Filecoin DeFi Bridge and Storage Market to enable cheaper and faster storage of data.

Ethereum 2.0 Launch Eminent despite Testnet Woes

As Ethereum upgrades a proof of stake (PoS) consensus mechanism and further solves the network’s scalability, deployment of ETH 2.0’s “Phase 0” will need 500,000 ETH deposited for the users to run more than 16,000 validators. ETH’s new release is expected to shield the platform from denial-of-service attacks, curb temporary penalty fees from quadrupling, and implement the genesis delay.

In August 2020, after its launch, the Medalla testnet suffered from very low participation since people were already bored of testnets as per Edgington. On the client front, the testing seemed somewhat one-sided as Prysm Ethereum 2.0 client dominated over other projects like Teku, Nimbus, and Lighthouse. Spadina test network in September also faced a “slightly bumpy” dress rehearsal time at its genesis.

All is not lost, since last week, Zinken testnet conducted a successful trial, which Anthony Sassano – Co-Founder of Etherhub & Product marketing manager for SetProtocol – stated that was the second last dress rehearsal testnet before the platform settles on a date for the ETH 2.0 phase 0 mainnet launch.

Altcoin News, Blockchain News, Cryptocurrency news, Ethereum News, FinTech News

James Lovett is a talented crypto enthusiast who finds pleasure in sharing more knowledge on fintech, cryptocurrency as well as blockchain and frontier technologies. He likes to keep himself furnished and updated with the latest innovation in the crypto industry, blockchain technology, Internet of Things (IoT) and other technologies. As a result, he tries to furnish ardent crypto supporters with the latest news on blockchain and distributed-ledger technologies. Indeed, Blockchain and Cryptocurrency is changing the world as we know “one block at a time”. As a hobby, he also trades in small amounts of cryptos every now and then.
An author with experience writing for tech, digital, and cryptocurrency blogs!





Source link

Continue Reading

Market

ASX Delays Launch of DLT System Over Coronavirus Trading Volatility

Published

on

By



ASX said it was eyeing a new date of April 2023 due to higher levels of demand than expected.



Source link

Continue Reading

Market

Better Earnings Results, Weak Q4 Outlook, MSFT Stock Down

Published

on

By


For the September quarter, Microsoft managed to comfortably beat Street estimates driven by a significant surge in the demand for its Azure cloud and software services.

On Tuesday, October 27, software and computing giant Microsoft Corporation (NASDAQ: MSFT) announced its September quarter results beating Street estimates. The company’s cloud computing division helped to boost its revenue beyond analysts’ expectations.

Microsoft reported earnings of $1.82 per share with a total revenue sales of $37.5 billion. This was above the expected earnings of $1.54 a share and sales of $35.72 billion. On a YoY basis, the company’s jumped a whopping 32% against the expected 12%. During the earnings call, Chief Financial Officer Amy Hood said:

“Demand for our cloud offerings drove a strong start to the fiscal year with our commercial cloud revenue generating $15.2 billion, up 31% year over year. We continue to invest against the significant opportunity ahead of us to drive long-term growth.”

In the September quarter revenue for Microsoft’s Intelligent Cloud segment jumped 20% to $13 billion. The Azure cloud services and server software helped to drive the gains further. Although the Azure services registered revenue growth of 48% below Wall Street’s estimates of 50%. It looks like the momentum has been cooling down, unlike the previous quarters.

Microsoft’s revenue for the Productivity and Business Process segment jumped 11% to $12.3 billion. Also, the revenue in its Personal Computing segment surged 6% to $11.8 billion.

Despite Good Results, Weak Q4 Outlook Pulls Microsoft Stock Down

The MSFT stock took a dip in the after-hours trading on Tuesday as the quarterly revenue guidance for Q4 2020 fell short of analysts’ expectations. Amy Hood said that Microsoft expects $39.5 billion to $40.4 billion in revenue during the last quarter. This is slightly below the Wall Street estimates of $40.43 billion.

On Tuesday closing, the MSFT stock was trading 1.51% up at $213 with a market cap of $1.61 trillion. Microsoft (MSFT) has been one of the top performers on Wall Street and is trading at a 35% premium year-to-date.

The last quarter had been considerably busy for the company. Earlier in August, the company was actively involved in discussions of acquiring the U.S. TikTok operations. However, it later lost the deal to Oracle Corporation (NYSE: ORCL) and Walmart Inc (NYSE: WMT).

Later in September, Microsoft announced the acquisition of ZeniMax Media in a $7.5 billion deal. This deal further extends Microsoft’s dominance in the gaming industry giving it complete access to the very popular Fallout Franchise. With its Xbox model, the company is also expecting a strong gaming revenue in the coming quarters.

Business News, Market News, News, Stocks, Wall Street

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.



Source link

Continue Reading

TRENDING