Investor Presentation • May 19, 2021
Investor Presentation
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Clever Presentation May 19th 2021
Sean D'Arcy VP of Kahoot! at School and Home
Kevin Kirn VP of Product at Clever
You've probably seen the announcement that Kahoot! will acquire Clever. Please note that until the transaction closes, we remain separate and independent companies.
However, we are excited for this opportunity to tell you more about Clever, and why we are so excited about what the future may bring.
Our vision is to build the leading learning platform in the world
Kahoot! helps me engage students in class and for homework, and also works great for virtual lessons even when school is closed "
As do millions of teachers globally
I love Kahoot! It makes learning fun!
As do hundreds of millions of students
As do millions of families around the world
As do hundreds of thousands of organizations in over 150 countries
Kahoot! used for both personal use and for the entire family for engaged learning and knowledge sharing, inspiring millions of individuals
Free and from \$5 per user per month
Millions of teachers and thousands of educational institutions around the world are using premium editions to drive learning and engage students
Free and from \$3 per teacher per month
Connecting the global educator community and providing high-quality, verified content, to ensure that every student gets access to awesome learning at school and home
All kinds of organisations are using Kahoot! at work to engage employees, connect teams, ensure training and build team spirit and corporate culture
From \$10 per user per month
connect marketplace content partners
Over
10K
educational institutions have already deployed multiuser Kahoot! teacher licenses
Equip IT admins with increased control, security & compliance
Elevate learning at your entire school or district
A collaborative, online whiteboard tool
at school
Embraced by over 8 million teachers globally
Next level engagement with Bitmoji
Uniquely positioned offering for U.S. market
Passionate cultures, shared values
Complementary strengths that create unique advantage
Significant growth and global expansion opportunities
MAY 19, 2021
"Clever really is this magical place where students can go and everything they need is just one click away."
Doug L., Instructional Technology @ Glendale USD
Founded in 2012 by a former educator and friends who saw from experience that the edtech boom was creating immense usability challenges for K-12 students, teachers, parents, and developers
The Clever platform was initially invented to give students & teachers single sign-on to all of their resources. ~50% of U.S. K-12 students are now active on Clever - the most popular learning platform nationwide
Clever has won through increased adoption within its network (20M+ monthly active students, 89K+ schools, 600+ app developers)
Despite its overarching focus on network growth above revenue, Clever is growing revenue at 25% CAGR and has already achieved neutral cash flow
At \$44M in expected billed revenue 2021, Clever is just scratching the surface of monetization, and is uniquely positioned to win the biggest opportunities in education today, including global expansion and the Clever App Store
Tyler Bosmeny CEO, Cofounder
Dan Carroll CPO, Cofounder
Rafael Garcia CTO, Cofounder
Eric Krugler VP Engineering
Kevin Kirn VP Product
Trish Sparks VP Customer Success
Anne Murguia VP Marketing
Kevin Laughlin CFO
Julie Weinstein VP People
175 employees (40% Prod/Eng), located in San Francisco, CA and Durham, NC
Remember spreadsheets with all of your students' usernames and passwords and taking half the class to log-in? No more! Over 1,020 hours of class time saved this week in our district due to Clever's single sign-on portal for students.
Educational Technology Specialist at District of Columbia Public Schools
6-12 months to create student accounts Students and teachers managing 10+ passwords, forgetting them frequently New students wait weeks to get access to edtech Apps can't keep up with constantly changing user data Edtech applications pay for massive implementation teams just to manually load data R&D work spent on data cleanup, not product
Learning Apps Used in Average District
The average Clever school district uses 9x more apps than they did 5 years ago
"There's no going back now."
Pedro Martinez Superintendent, San Antonio ISD
3-6 month implementation cycles Schools and districts have
Teachers and students have
25% wasted class time due to log in problems
EdTech vendors have
12-18 month sales cycles with costly field sales model
U.S. schools spend \$13B/year on edtech 70% of paid licenses are never even used once
6% of EdTech vendors satisfied with selling process
| FinTech | Payments | Education | Data | Communications |
|---|---|---|---|---|
5 minute implementations No wasted class time Instant purchasing
| Clever Super Duper Elementary |
Homeroom | Analytics NEW Classes Library |
$0$ $A$ $B$ Q Search |
||
|---|---|---|---|---|---|
| Teacher Pages | Hide $\triangle$ | Clever | Dashboard | ||
| Ø Homeroom |
Social Studies | Math Page | O Period 2 - Science |
Edtech Analytics | |
| Conly visible to you 0 Resources |
Conly visible to you 0 Resources |
: Shared with 2 sections 2 Resources |
忠 Shared with 2 sections 7 Resources |
Last 28 days | SCHOOL STUDENT GRADE All Schools All grades and teachers |
| l e Period 3 - Math |
Period 4 - English | æ. District Page |
422 66 Clever Apps Added by the district Total apps |
79 Library Apps 277 Other apps Added by teachers Including any web links |
|
| ※ Shared with 1 section 11 Resources |
た Shared with 1 section 27 Resources |
Shared by your district 18 Resources |
$\sim$ | ||
| Clever | Messages COLOR $\sim$ |
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| Today's Apps | Messages | Ms. Patty $\blacksquare$ $\blacksquare$ |
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| 88 De હ ه.ه |
E. owtoon |
$ck-12$ | Parents Students |
Jasmine Wilcott | COLOR $\blacksquare$ |
| Code.org Duolingo Explain Everything DISTRICT DISTRICT Whiteboard 11111 11111 11111 |
Powtoon PowerMyLearn Edulastic ing Connect 11111 111111 DISTRIC 11111 |
$CK-12$ Foundation DISTRICT 11111 |
CLASSES Parents for all classes |
Hi Jasmine, please help Will with his essay tonight, it's due tomorrow at 11am. |
|
| Resources added by you | Jasmine Wilcott Mother of Will Johnson |
Thanks for the reminder Ms. Patty! Should he submit the essay via Google classroom? |
Clever S over 20N |
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| l v school Tub education |
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Yes! That's correct | and 1.2M | |
| SchoolTube Cinematograp Common Sense hers Education |
U.S. Powtoon Explain Cinematograp Everything hers Society Whiteboard |
BrightFish e hallpassClass Reading (Dev) |
Message Jasmine Wilcott | every mo | |
Clever SSO is used by over 20M students and 1.2M teachers every month
The Clever API is the central hub between Apps and school databases
Saves Apps from integrating with 100+ school database vendors
REST API relied on by 600+ apps for identity and provisioning
"My new superpower is getting kids logged in and actually using the district purchased curriculum to its full potential!"
Samantha O., K-5 music teacher in North Dakota
Scalable integration and deployment into Clever's network Wide & growing reach of the platform increases value for partners Fees per connection scale with volume of schools served
Digital learning is connected, secure, easy to use 100% free integration, portal, support 96 of the top 100 districts in the U.S. use Clever
Third parties rate Clever the most used website in Education after Google Workspace and Zoom
Microsoft ranks Clever as #7 in Active Directory MAUs globally (not education specific)
Sources: Edtech Insights 2020: LEA(R)N Report of 1,055 Edtech Websites (link). Rank Post-COVID-19, March 16 to May 15, 2020. Microsoft Corp. 2021: The State of Apps by Microsoft Identity: Azure AD App Gallery Apps that Made the Most Impact in 2020 (link).
Announced April 2021, Google named Clever its preferred partner to help schools setup and roster Google Classroom
Zoom wanted to get its app into schools quickly, and turned to Clever. 851 school districts started using Zoom through Clever, powering 80M+ Zoom sessions
Huge growth potential for Clever within existing network
Most Active Clever Schools Average Clever School
Existing applications grow use of Clever every year with over 100% Net Revenue Retention
Increased Clever usage & edtech adoption in existing schools creates 3x+ revenue growth potential
Bringing new apps, new schools, and new products to network creates additional growth opportunities
"I hope we can make an agreement to use Clever Badges to solve this huge problem [in Italy]."
Ricardo N., Technology Consultant, Acornhouse School, Rome, Italy
Continuing to innovate to drive impact & value through additional opportunities
Single Sign On Paid App Store International
| Clever | Davis School District | Dashboard | Portal | App Store | Q Search | ||
|---|---|---|---|---|---|---|---|
| ← Back in categories: Classroom management, Other for grades: K-12 Clubhouse Learning Clubhouse Learning engages millions of kids every month with tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam. ₩3 Most requested |
K-12th Classroom management, Other | Request pricing Pricing model Freemium @ |
|||||
| 4th in teacher installs 35 238 Δ Teachers Students Dist. schools |
4.9 Teacher rating 4 in-school reviews 621 total teacher reviews $\overline{\phantom{a}}$ |
Clever connection SSO, Secure Sync, Clever Library v |
School-wide licenses \$5.75 - \$8.50 per student/vr District-wide licenses \$3.25 - \$5.50 per student/vr Try a free demo |
||||
| App details Clubhouse Learning has hundreds of ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehend Show more Standards alignment |
Share with teachers Developer website Clubhouse Education, Inc. Legal Terms of Sevice Privacy Policy Data sharing agreement |
||||||
| Clubhouse Learning alignment with standards Platform compatibility Web browser, Windows installed application, MacOS installed application Tags Wellness Online Gamified Math |
Grade readiness Hippo |
||||||
| Media |
Already launched Clever's free app store for teachers – 75M student and teacher accounts created during 2020
Two monetization models, including first pay-per-lead, and ultimately "Click to Buy" with revenue share Coming soon
Coming soon
Potential expansion targets
TAM U.S. School Districts
Software distribution into schools (\$3B based on a 20% commission on \$13B in annual edtech software spend)
Expand platform globally, starting with English speaking countries
On a mission to make learning awesome
"Great way to reach students outside of the classroom"
"Gives me valuable realtime assessment analytics"
"I'm learning while playing a fun game"
"Helps me prepare for tests"
"I love to create kahoots to play with my class "
IT Admins
Teachers
Students
Versatile teaching · Engaging learning · Adaptable assessment Comprehensive content · Community spirit · Easy deployment
School & district leaders
Home
Class creation with student rostering
Student kahoot creation with full creator
Create study groups and courses
Student-level assessment and attendance
Kahoot! EDU+ bundle option with more teaching and learning apps
Expanded interactive lesson toolkit with rich media tools
New team mode to build 21st century skills
SSO, LMS and tech stack integrations
Choose from 60M learning games available on the platform
Or choose from ready-to-use collections made by verified educators and Premium partners
Unique content from brands like Disney, Marvel, Britannica, TIME for
Kahoot! Academy Marketplace (launch 2021) enables teachers to share content, both free and commercially
| Kahoot! FY 2018 |
Kahoot! FY 2019 |
Kahoot! FY 2020 |
Kahoot! FY 2021 |
Clever FY 2021 |
|
|---|---|---|---|---|---|
| Invoiced revenue | \$3.5m | \$13m | \$45m | \$90-100m | \$44m |
| Paid subscriptions | 46K | 170K | 550K | 1m |
| Kahoot! Group continues with strong momentum 2021 |
Kahoot! Academy Marketplace coming soon |
New EDU offerings and price plan for K12 and Higher Education |
||
|---|---|---|---|---|
| Solid foundation for further expansion in School globally |
Kahoot! and Clever complementary offerings provide unique position in U.S. K12 |
Multiple expansion and commercial routes ahead |
Kahoot! started 2012 as a quiz-based game to ensure attention, create engagement and provide knowledge in classrooms
Global recognized brand with a viral distribution model based on scalable technology platform
User centric, data-driven and iterative approach to product development and innovation
Over 100m user generated Kahoots, 275m games played last 12 months with 1.6bn participating players
Launched September 2013
Growth focus on US and K-12
Top 3 tool in US education
50+ employees
Launched first commercial editions with 40k paid subscriptions
Launched mobile apps for iOS and Android
75+ employees
New commercial subscription editions for all segments
Reaching 170k paid subscriptions
Acquisition of Poio and DragonBox
120+ employees
More commercial offerings, over 750k paid subscriptions
Launched first platform service
Acquisition of Actimo, Drops, Whiteboard.fi and Motimate
250+ employees
1) Not including Home & Study subscriptions
2) Not including ARR from future acquisitions
Teacher Student Professional Investor
Parent
kahoot.com/school kahoot.com/study kahoot.com/work kahoot.com/investor kahoot.com/home
Stay up to date, visit kahoot.com/news
| Shareholders per May 18, 2021 | Shares (m) | $\%$ | |
|---|---|---|---|
| 1 SoftBank | 75.0 | 15.9% | |
| 2 Datum Group | 52.1 | 11.0% | |
| 3 Glitrafjord | 40.2 | 8.5% | |
| 4 Creandum III LP | 20.0 | 4.2% | |
| 5 | The Bank of New York Mellon | 19.3 | 4.1% |
| 6 | Citigroup Global Markets Inc. | 13.5 | 2.9% |
| 7 Versvik Invest AS | 13.0 | 2.7% | |
| 8 State Street Bank and Trust Comp | 11,3 | 2.4% | |
| 9 | Newbrott AS | 7.6 | 1.6% |
| 10 State Street Bank and Trust Comp | 6.2 | 1.3% | |
| 11 | MP Pensjon PK | 5.4 | 1.19 |
| 12 Gamification AS | 5.2 | 1.1% | |
| 13 | Nordnet Bank AB | 5.2 | 1.1% |
| 14 Morgan Stanley & Co. Int. Plc. | 4,5 | 0.9% | |
| 15 Sanden AS | 4.3 | 0.9% | |
| 16 J.P. Morgan Securities PLC | 4.3 | 0.9% | |
| 17 The Bank of New York Mellon SA/NV | 3.5 | 0.8% | |
| 18 Adrian AS | 3.2 | 0.7% | |
| 19 J.P. Morgan Bank Luxembourg S.A. | 3.1 | 0.7% | |
| 20 Verdipapirfondet DNB Norden | 2,9 | 0.6% | |
| Other | 172,8 | 36,6 % | |
| Total outstanding shares | 472,7 | 100.0 % | |
| Outstanding share options | 20.0 | ||
| Total no. of shares (fully diluted) | 492,7 | ||
| Oslo Stock Exchange: | КАНОТ |
|---|---|
| Yahoo! Finance | KAHOT.OL |
| Reuters: | KAHOT.OL |
| Bloomberg: | KAHOOT:NO |
| Number of common shares: | 472,689,510 |
| Outstanding share options: | 20.047.850 |
| Total no. of shares (fully diluted): | 492,737,360 |
| Share price (May 18, 2021): | NOK 58.60 |
| Avg. daily trading volume YTD (shares): | 2,779,000 |
| Market Cap total (May 18, 2021): | NOK 27.7bn |
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