New report assessing Kahoot! brand market value at $1.6bn points to clear direction, passionate customers and innovation as key brand attributes
City, Country (March 29, 2021) – Kahoot!, the global learning platform company, today shares the findings of a new report that explores the details behind the company’s strong brand market value, pointing to clarity of direction, passionate users, and a commitment to continuous customer-centric product innovation among key differentiators of the Kahoot! brand.
2020 represented a strong year of growth for Kahoot!, with the company marking milestones including 5 billion cumulative participating players across 193 countries with 1.5 billion alone in 2020. More than 7.5 million teachers and hundreds of millions of students, alongside families and professionals use the platform to learn across workplaces, schools and homes. As Kahoot! continues to expand its platform, the company has commissioned a report to investigate associated development of Kahoot!’s brand attributes and relevance among its varied audiences on the back of steadily increasing global exposure.
Findings in the report by the leading brand consultancy, Interbrand point to what it describes as “a platform and experience that users feel passionate about”, ultimately estimating the Kahoot! brand value to more than $1.6 billion, representing approximately 30% of the company’s current market value. According to Interbrand, Kahoot!’s Global Brand Strength Score was on par with that of long-established global brands such as Nintendo, YouTube and Sony.
‘The drumbeat of innovation’
In arriving at their brand market value estimate for Kahoot!, Interbrand utilized proven brand valuation methodologies, incorporating a comprehensive set of resources and market research.
Among the key contributors to Kahoot!’s overall Global Brand Strength Score was the clarity of the company’s direction, with user satisfaction and affection for the Kahoot! brand cited in the report which notes how “there is a deeper sense of connection that users feel with Kahoot!” beyond the learning benefits, and that “Kahoot! is a company that users say they love more than competitors across different segments.” That passion for the brand is also evidenced by the report’s finding that, “community in effect has become the strongest source of marketing” for Kahoot!.
Kahoot!’s commitment to innovating its products through a ‘drumbeat of innovation’ saw it achieve a strong score for agility, with survey respondents in the US and UK describing Kahoot! as, in some cases, up to 30% more innovative than the competitor average in each segment.
Furthermore, Interbrand points to the relevant expansion of Kahoot!’s ecosystem with the acquisitions in 2020 of visual language app platform, Drops, and employee engagement platform, Actimo, as contributing to the company’s agility score by steadily increasing its reach into new market segments and audiences.
“Kahoot! is a company with a very clear mission: to make learning awesome, so it’s encouraging to see that clarity of purpose reflected in a strong brand market value”, said Eilert Hanoa, CEO, Kahoot!. “And, of course, our success is predicated on placing the user at the centre of all our product innovations. Our users play the most essential role in Kahoot!’s journey so we’re really pleased to see that they’re passionate about our brand. That’s a vital vote of confidence and very valuable insight to assist us in the work we’re doing to continuously engage our users by developing our product based on their needs and feedback.”
Increasing relevance of software as a service (SaaS) platforms
While global changes in behavior have been accelerated by the Covid-19 pandemic, it is not the only catalyst behind an unprecedented rise in the use of digital engagement tools and technologies. The efficiency, accessibility and sustainability offered by digitalization are driving wholescale changes in user behavior, particularly in the areas of communication and engagement.
Kahoot! is among the brands within the technology and e-learning industries experiencing a surge in usage as schools, businesses and social groups turn to virtual tools and move into a blended reality where virtual and physical interaction co-exist. The impact of this global trend on a brand’s value is evidenced by the ubiquity of technology brands in the top ten of Interbrand’s own Best Global Brands 2020 report. The same report pointed to technology as the most fast-growing and resilient sector, emphasising accessibility and proximity to the customer as well as the increasing popularity of subscription models as key differentiators from physical brands.
“There’s no doubt that technology brands are steadily increasing in terms of their brand value. We saw that trend clearly in our Best Global Brands 2020 report, and I think we’re seeing it here, too, in microcosm with Kahoot!’s strong brand value,” said Michael Rocha, Global Director Brand Valuation, Interbrand.
“The market opportunity for Kahoot! is huge, with the EdTech market set to grow substantially, along with hybrid working soon to become the norm. In a highly fragmented market, Kahoot! is well placed to take advantage of these tailwinds.”
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 game-based learning platform makes it easy for any individual or corporation to create, share, and play learning games that drive serious engagement. In addition, our family of apps takes math learning to a new level and empowers children to learn to read through play. Launched in 2013, Kahoot!’s vision is to build the leading learning platform in the world. In the last 12 months, more than 200 million games have been played on the Kahoot! platform with over one billion participating players in 200 countries. The company is headquartered in Norway with offices in the US, the UK, France, Finland, Denmark and Spain. Let’s play!
Interbrand has been a world leading brand consultancy for over 45 years – having pioneered iconic work and forged many of the brand building tools that are commonplace across the industry today. Interbrand has over 30 years of experience delivering brand valuation analysis, having designed and led the world’s first brand valuation in 1988. Interbrand was the first company to have its brand valuation methodology certified as compliant with the requirements of ISO 10668 (requirements for monetary brand valuation) and played a key role in the development of the standard itself. Interbrand partners with more than 650 of the world’s best known brands, to deliver what the company calls “Iconic Moves”, defined as bold steps brands take to leap ahead of customer expectation and drive competitive advantage. In collaboration with the world’s leading brands, Interbrand’s global team of thinkers and makers are pioneering the future of brand building. By turning customers into active participants, Interbrand helps clients strengthen their brands on an ongoing basis – giving these clients the confidence to make Iconic Moves that spark desire and create utility, driving exceptional results. Headquartered in New York, Interbrand also has offices in London, Madrid, Milan, Mumbai, Cologne, Mexico City, Boston, Buenos Aires, São Paulo, Seoul, Shanghai, Sydney, San Francisco and Tokyo. The company currently partners with more than half of the world’s Best Global Brands.