Hello, everyone. Sorry. Hello, everyone, and welcome to today's presentation with Kahoot! and Clever. We are very excited to get started, and the presenters you will meet today are Eilert Hanoa, who's the CEO of Kahoot! It's Tyler Bosmeny, who's the CEO of Clever. It's Sean D'Arcy, who's the Head of Kahoot! at School and Home. It's Agnete Tøien Pedersen, who's the Head of Kahoot! Academy, and it's Osama Hanif, who's the Director of Product at Kahoot! With that, I think we're ready to start off with showing a short video. [Presentation] Thank you, Camilla. Welcome everyone to this presentation. It's really a pleasure to be able to talk about building the leading learning platform in the world when we now have Clever as a part of the Kahoot! Group. I think it has never been more important to build the leading learning platform in the world with everything that is going on, whether it's about what we see of impact from the pandemic or how teachers are to use digital tools both in the classroom but also on remote learning, whether it's during lockdown for homework or for any other setting. It's all about making learning awesome. Today, in the Kahoot! Group, we have a fantastic collection of companies, of services, of people, and of course, of millions of users around the world who are using our technology to make that happen and come to life. Together with our partners, we are more valuable than ever, both for teachers, for students, and for parents. Of course, the dimension that Clever brings into this is phenomenal, and that's what we're going to focus on today. On the next slide, we'll see a background for the transaction. We have, as you might know, closed the transaction now, which is great. We have got over 175 new teammates from the Clever organization in the U.S. That means that we are closer to 500 FTEs in the Kahoot! Group, where close to half are located in the U.S. We have also seen that Clever has continued their growth, both from the announcement but also versus last year, which is, of course, fantastic to see. We have been able to structure this transaction in a way we believe is a great benefit for both the Clever and the Kahoot!'s shareholders going forward. With Clever's strength and experienced management team, we will continue to run the Clever operation as a company which is running their own business and focusing on their customers and building out the platform. We're going to hear more about this from Tyler in a few minutes, how they are really doubling down on all the initiatives that have been built up in the Clever organization. Let's take one view on the combined unit and how Kahoot! and Clever in the Kahoot! Group really makes a difference. It's all about making learning awesome and now together with Clever. Of course, combining the 1.9 billion players we have in Kahoot! Are now very happy to announce today, reaching 30 million active accounts for the last 12 months, where 9 million are teachers. Combine that with the strength of Clever, especially in the U.S., and also the tech stack they provide, which gives us joint opportunities going forward. Combining Kahoot!'s already great and loved assets, but getting an even better reach into the U.S. K-12, together with Clever, is of course a mutual beneficial opportunity for us. Combining Kahoot! and Clever to grow internationally, to make sure that we can both build on Kahoot!'s presence in all markets, all the 200 countries and regions around the world, but also adding the Clever stack and Clever technology as we roll out new and improved offerings to schools and teachers in the different markets. That's basically the vertical integration we can provide, which is much more than 1 + 1 = 2, as you hopefully will see throughout today's presentation, but also the opportunity we have to deliver a much better value proposition to all users with these entities combined. Last but not least, of course, it gives us some operational scale. Just imagine that out of our 500 FTEs, almost half are focusing on building a better product and better services to our millions of users around the world. Of course, on the cost side, to optimize, to continue to challenge how we organize ourselves to constantly improve the deliveries, but also to get the scalability as we go is, of course, our top priority. With the combination of Kahoot! and Clever, we have a fantastic foundation for building further into 2022 and beyond. What's going to be our focus going forward? Especially as we are two new great entities combining our forces, we will focus on making sure that Clever can continue to thrive and grow and commercialize the Clever network. We will continue to make sure that what we do in Clever is based on the success so far and continuing to strengthening both the partnerships, the reach, the ability to listen to teachers and school admins and students around the world, and combining all the aggregated experience we have from different markets also back to Clever. We will see how can we use Kahoot! at School and the Kahoot! EDU offerings, and then expand them and also deepen the value, when they run on the Clever platform. We will make sure that we don't stop with the software, but also see how can we strengthen all our offerings to all user groups and segments together with Clever, in the U.S. particularly. Of course, both into the globalization, meaning how we go international with Clever and Kahoot! and how we combine the synergies, on the platform, we have some opportunities to put even more resources in to deliver more value and more opportunities in the future. Let's start with listening to Tyler and how the Clever network can continue to grow and all the great opportunities we have there. With that, I'm very happy to hand over to Tyler. Are you with us? Good to be here, Eilert, and thanks for that introduction. Well, wow, everybody, it really is so good to be here. We are a week from Clever having joined the Kahoot! family and from us having completed this transaction. What a week it's been. As you'll see, we've already started rolling up our sleeves, collaborating and plotting out a really exciting future ahead. I'm excited today to share with you, to talk a bit at a high level about Clever, remind you who we are and what we're working on, and share some of the key initiatives we have this back-to-school season. As you'll see on the next slide here, not only is it an exciting time for us at Clever and Kahoot! because we are joining together, it's a really exciting time for education technology in the U.S. right now. Last year, there was such a surge of activity, in the U.S. EdTech market. Folks thought could 2021 possibly top that? It has, and even as students have returned in classroom or in many cases to hybrid learning, the growth of education technology has continued unabated. Many of the EdTech CEOs I talk to and so many of the companies I talk to are putting up record years. We're seeing schools rely on education technology more than ever before. We're also seeing this proliferation of apps and tools creating an even stronger need for a centralized platform and for a centralized portal, that's where we at Clever come in. Another big trend right now is a huge focus and awareness on privacy and security. We're seeing that across the U.S. There's dozens of new state laws. It's making the secure APIs all the more essential. In many cases, [audio distortion] information back and forth. That's another big place that Clever plays. Above all, another data point on just the health of the ecosystem right now is almost 100 new applications have joined the Clever platform just this year, bringing us to 700 total applications on the Clever platform, up from 600 when we convened just several months ago. As you'll see on the next slide, we at Clever, we play a very critical role in the center of this ecosystem. We do a number of things. What we're best known for, if you stop a student or teacher on the street, here in the U.S., we're best known for the Clever Portal, which is a single sign-on portal that students and teachers log into to access all of their EdTech applications. Last school year, over 50% of all students and teachers in the U.S. actively used the Clever Portal as their way of accessing all their different EdTech resources. That's what we call the digital classroom to love. We're more than a single sign-on portal. Behind the scenes, powering that portal is a data API. This enables the secure transmission of data between schools and applications, and it's in many ways how Clever got its start. Today, we'll talk about other aspects to the Clever platform, Clever Badges, the Clever App Store, Clever Identity Management. At the core, what your takeaway should be is that Clever is building critical infrastructure that sits at the heart of the EdTech ecosystem and makes it effortless and easy for students and teachers to have those magical learning experiences, including with Kahoot! We are thrilled to be powering some of the biggest brands in education today with our infrastructure, whether it's Google, whether it's Zoom, whether it's McGraw Hill, or the hundreds of other applications who are built on the Clever platform and use Clever to reach their end users. That's a bit about the Clever product. Behind the Clever product, I also want to call out the amazing Clever team, and it's not just me building this company. We've been fortunate to build and attract a world-class leadership team, whether it's experience from Apple, Microsoft, LinkedIn, Dropbox. We've been thrilled to build an incredible bench of leadership and executives who've come from first-class technology companies that are helping us build Clever and pairing that with really deep education expertise, starting with my co-founder or our head of success, both who are former classroom teachers and deeply empathize and relate to the experience of students and teachers using technology. We're thrilled to have this incredible leadership team with this incredible DNA helping us build this company. As an example, I thought I would provide just one more example of one of the tangible problems that we're solving at Clever. This is really just a sliver, but it's an example of the types of problems you have to solve to be a compelling platform for students and teachers. One of those problems that we noticed when students and teachers use EdTech is just the mere act of logging in is too hard. Look, logging in is hard for most adults, remembering lots of usernames and passwords. Imagine logging in as a kindergartner before you've even learned your letters and numbers. In classrooms, we walked into classrooms where this process could take 10, 15, 20 minutes of class time, a quarter of a class period, just getting the student logged in before they could even begin learning. One of the solutions we built on Clever is Clever Badges, and I want to show you how this works now. That's so cool. What you're seeing here is Clever has built a way for teachers to generate unique QR codes for all of their students. Usually, they're given to them as a Clever Badge. This badge, when they wave it in front of their Chromebook, it automatically logs them into their device, it automatically logs them into Clever, and it automatically logs them into all of their EdTech applications. This simple way of logging in that Clever's created, already 10% of our users use it when they log into Clever every day, and we've powered over 1 billion learning sessions with these QR codes alone. Clever Badges is used mostly by our younger students, and it's just one of the many types of challenges that we solve every day at Clever, trying to make learning easier and more accessible. In the pursuit of doing that, I also want to touch on our business model. One of the things that Clever is known for is that we're completely free to schools and districts who use Clever. That's why the majority of schools and districts in the United States have adopted Clever. Over 90,000 schools and over 96 of the top 100 biggest districts in the United States use Clever, whether it's New York, L.A., Miami, all the way down. Clever's business model comes from the top applications who pay. Over 440 of our application partners are paying partners who integrate with Clever to make their deployments easier into schools, to access the growing Clever network of Clever schools. They want to sell into this network. Most importantly, so that their software will be used because they know when they push out their software through Clever, it's going to be easy for their students and teachers to access. For companies, engagement is what drives revenue, it's what drives renewals, that's why they partner with us and they pay. [audio distortion] that we built [audio distortion] where we're going because as I mentioned at the beginning, it's back-to-school season. For us at Clever, this is go time. This is when so many students and teachers come back to school all at once here in the U.S. It's when we release so many of our new products and offerings for the year, and it's when all of our metrics really begin to surge. We are just at the beginning of this really exciting time. As we think about what we are focusing on and where we're investing, there's two areas of strategic focus that I want to call out for us at Clever. The first bucket is something that we internally call growing our network, and the second is adding value to our network. When I say our network, what am I referring to? At Clever, we think of our network as our single most strategic asset. It's the way that our platform connects an ever-growing body of stakeholders, students, teachers, schools, and district administrators, and the whole EdTech ecosystem. All of these constituents come together on Clever, and we're constantly looking for ways to grow and monetize this network. I'm going to be sharing with you just a few of the ways that we are working to grow this network now, and a few of the ways that we are adding value and monetizing this network as well, including by adding parents into the network. As you'll see on the next slide, I'm going to talk about three different ways that we're working to grow the network. The first is one that I'm really excited about, is student and teacher messaging. This has been a huge product effort for us this year that is just coming to fruition. It's about giving students and teachers a way to communicate within the Clever product. This means that students and teachers are coming to Clever not only to log into their EdTech resources, but also to communicate about that learning and to learn what they should be doing next. It gives students and teachers a reason to come to Clever every day, so that they can have that communication. We've added all sorts of things, including group communications, direct messages, attachments, translation to six languages. Student-teacher messaging is taking off on Clever, and it's just another thing making our platform really engaging and really sticky for all the members of our network. We're not stopping there. As you'll see on the next slide, we're also adding parents into our network. Long term, we see this as really strategic. Parents representing a critical constituency and potentially purchasers in the Clever network. We've released messaging for parents just this year. Now we've just released mobile apps on iOS and Android, meaning any parent can download the Clever app and stay in touch with their children's teachers while they're on the go. We're really excited to be bringing these stakeholders on to Clever as well. The third and final way that we're growing our network right now, and into the future is with global expansion. We talked about this when we first announced the acquisition, and this is an area where we're really excited to get going, because there is strong demand for Clever outside of the U.S., both from schools and applications. We hear from them all the time, since we started the company really, about wanting to know, "It's great that you helped me with all my deployments in the U.S. When can you help me in other countries?" We have a great base of application partners who already have this global footprint, Kahoot! first and foremost, but many others as well. We know that our footprint becomes even more valuable to our app partners as we grow it into more markets as well. We are excited to really step on the gas and expand into more markets, as early as next year. We're laying the foundation right now with GDPR compliance and all the things we need to do to really get that moving. We're really excited to grow our network, not just with messaging, not just with parents, but also globally. I want to talk about some of the ways that we're monetizing the network and adding new value for our schools and application partners onto the network. One of the biggest ways we're doing that is with the launch of our App Store for education. We already have a free App Store for education for teachers, where they can go and discover free EdTech resources. This has taken off. Just last year, 75 million new student and teacher accounts were created by teachers going to the Clever App Store, discovering new EdTech products to use, and pushing them out to their classroom. This is active, this is vibrant. What we're building now is we're taking that experience to the school and district level, which is where so much of the purchasing power and the budget lies. We're building a new buying experience for schools and districts with demos, rich data, and of course, that magical one-click deployment experience that you can only get on Clever. We're really excited to be rolling out our full click-to-buy experience, and as you'll see on the next slide, this is a major opportunity for Clever. When you're providing a full app store experience as opposed to just the integration layer, you earn a much bigger take. We're going to market with a 20% commission on the $13 billion in annual Ed Tech spend, which could be running through this platform. You'll see it really grows the $3 billion revenue opportunity for Clever just in the U.S., and as we think about taking it globally, it gets even bigger. In fact, even bigger even faster, because so many applications have told us that, while they're really keen for distribution in the U.S., one of the areas they most struggle, and for them, the biggest growth opportunity is getting new distribution abroad. We're excited to help with that as well. As we talk about the Clever App Store, we've been talking about third-party products. We're not going to limit it to that. One of the things we're really excited to be working on this back to school is a first-party product that'll be part of our Clever App Store, and it's Clever Identity Management. As you'll see on the next slide here, we have just launched a new product, which is a paid product for schools. This is new for Clever. At the beginning of the year, Clever was completely free for schools, and there were zero paid add-ons. Today, we have a paid add-on for schools, called Clever IDM Essentials. What it does is it helps schools manage all their accounts in core identity systems like Google. This used to be really manual and painful for schools without Clever, and now we have a solution for them. This is, of course, being one of the first apps in the Clever App Store, exclusively available for purchase, and represents a whole direction for Clever as we begin to create new value and unlock new monetization opportunities with our incredible install base of districts. This identity management product has been so well-received. We did a webinar announcing it, hundreds and hundreds of districts joining it to see what this is all about, and we're so excited to make Clever IDM a big success, and by future add-ons to come. It's not just Clever IDM coming to Clever and the Clever App Store. Of course, I'd be remiss if I didn't talk about all the ways that Kahoot! is coming to Clever and the Clever App Store. We've only been combined and integrated for a week, but already we just launched Kahoot! for teachers on the Clever platform. For the first time ever, teachers will be able to discover and use Kahoot! through Clever. Coming soon, for the first time ever, schools and districts will be able to discover the premium and enterprise Kahoot! EDU editions that include Clever integration on Clever as well. What I want to say about this is what I think is so special about this is it really represents the strengths of both companies in action in coming together. Bringing Kahoot!, in one of the most beloved and engaging applications, onto the Clever platform, for Clever, is going to drive massive usage and engagement of Clever, give students and teachers yet another reason to log into Clever every day. At the same time, it drives really unique reach and distribution for Kahoot!. This is one of these win-win opportunities by coming together where we can do things really uniquely. We're so excited to be launching Kahoot! onto the Clever platform and into the Clever App Store. By the way, this is just what we've been able to do in about one week of marriage here. I cannot wait to see what we'll be able to do this time for next back -to-school once we've been working together for longer. To wrap it up here, as I think about the ways that we are monetizing our network and really the Clever App Store opportunity in particular, there's a lot of companies that would love to be the center of commerce or love to be the marketplace in education technology. What is so unique about Clever is the unique foundation we've laid here as the rails and as the infrastructure for the EdTech ecosystem, whether it's the connections we have with all of the school databases, whether it's the relationships with purchasers and decision-makers in the majority of U.S. school districts, the deep partnerships and integrations with EdTech applications. The homepage, the fact that students and teachers already log into Clever every day as their homepage, and that we already have the free app store where teachers are going to discover their next EdTech product. This is the foundation that is allowing us to create this differentiated, one-of-a-kind buying experience for schools and districts, and we're so excited about what's to come and the size of this opportunity, accelerated now with Kahoot!. That's what we're working on right now at Clever. That's our back-to-school update. We're so excited to get to share it with you today. Now I'm going to turn things over to Sean to give you an update on how things are looking from the Kahoot! end. Well, thank you very much, Tyler. Wow, what an amazing opportunity we have to work together. Hello, everybody. My name is Sean D'Arcy, and I head up the Kahoot! at School and at Home business areas. It's really great to be here today with Clever. Kahoot! at School is all about making learning awesome for millions of teachers and hundreds of millions of students through really a portfolio of award-winning learning products. Before we jump into the Kahoot! at School plus Clever and how we're going to work together, I really wanted to give everyone an update on how back -to-school 2021 is going. Let's have a look. The short story is really is that we're off to a flying start this back to school. Since August 1st, teachers have played over 6 million kahoots with over 75 million student sessions, and we're really only just getting started at back to school. It's still only early days. What teachers are telling us through this process is that engagement, coming out of the pandemic, has never been more important than it is this back -to-school. We're actually seeing that with the use of our product, where nine out of 10 kahoots were live kahoots. Some of them were virtual, but most are back in the classroom, like you can see from this image here. The combination, as you'll see on the next slide, of Kahoot! and Clever really couldn't come at a better time. Simply put, Kahoot! plus Clever are the perfect match, really, to make learning awesome. Kahoot! is really loved by teachers and students around the world, while Clever is trusted by IT admins and school leaders just simply wherever it's deployed. Together, we really believe we can give teachers a more powerful toolkit to engage their students and quickly get those students logged in and learning. At the same time, we really feel that we can empower IT admins to scale up the way Kahoot! is used and managed inside their institutions. We want to give also school leaders the ability to really successfully measure learning outcomes of those students. Together with Clever, we've really prepared a back-to-school roadmap that's largely based on feedback we've received from our shared customers. Really, it revolves around four key themes. The first is improved accessibility for more students, especially the youngest students. I'm really excited about this. We're on the verge of localizing our platform into 11 languages. I think this is going to make a really big difference for many teachers and students out there. We've also heard from teachers this back -to-school season that they're worried about closing the learning gap from the pandemic and really accelerating learning. We're also looking at new ways that Kahoot! can be used. It's not just limited to doing review. We also want to enable interactive lessons so that Kahoot! can be used for instruction and to introduce new subject matter. We're really working on a good roadmap around that. Of course, engagement is our bread and butter. We're boosting that as well this back to school by adding audio, video, gifs, really making it more exciting for students. We have some new ways to play Kahoot! coming up this second half of the year, which I can't wait for everybody to try out. They're going to be a lot of fun. Last but not least, we're building out Kahoot! EDU. Of course, let's have a little bit of a closer look at that one. On the next slide, you'll see that Kahoot! EDU is really our school and district commercial product, that most importantly, I think, gives IT admins and school leaders an expanded toolkit to really scale up and maximize the way Kahoot! is used inside their institutions. Just to give you a little bit of a background here. Over the last few years, really, teachers have sort of been using Kahoot!, and they've started to come together to use Kahoot! as a group, as a team to really save time and create even higher levels of student engagement. Through that process, they've really begun asking their IT admins, their principals, "Can we upgrade to higher versions of Kahoot! that unlock more features?" The result of that is that of all that usage and frankly all that love is that there are now over 10,000 schools and districts already upgraded to paid Kahoot! plans. There's certainly demand from IT admins and school leaders out there for a scalable solution like Kahoot! EDU, especially a solution that's enhanced with Clever. Coming to Kahoot! EDU this fall, we have several new features that I think are going to be great all by themselves, but are really going to be sort of game-changing in combination with Clever. The first is classes, which teachers can really pull in from Clever, and then assign kahoots directly to students in those classes. The next is Kahoot! Courses, which will enable teachers to really combine kahoots with new activities such as Math Labs by DragonBox. It's really going to deepen learning, add a lot of variety, and one of my colleagues is going to tell you more about Kahoot! Courses in a couple of minutes, so I'll let him do that. What I'm really passionate about is students are now going to get access to more creation features, where they can now create their own kahoots and really demonstrate what they're learning, sharpen their presentation skills, and they can do that all using student accounts created inside Clever. Last, but certainly not least, school leaders are going to be able to, for the first time, really follow individual student learning progress over time to really assess learning outcomes or simply to take attendance. What's more is that from a product side, obviously we have a lot of synergies, but also what's great is that on the commercial side, we're also seeing that. In addition to really supporting us, helping teachers and students log in and create that engagement and create that excitement around the product, this fall, I'm delighted to offer student licensing on Kahoot! EDU, which will be facilitated by student accounts created inside Clever and, of course, distributed on the Clever App Store. In preparation for back to school, as Tyler pointed out, we've been super busy. We've rolled up our sleeves, and we've already launched Kahoot! in the Clever App Store. It's been a request for a while, so I'm really happy to have gotten that out. I'm happy to report that after only a few short days, Kahoot! is already the number one app in the Clever Library. Certainly it's a great place to start. Here's what's next. On the next slide, you'll see that we are going to be adding Kahoot! EDU to the Clever App Store for school admins, as Tyler pointed out. That's really going to enable them to really purchase Kahoot! EDU for their entire institution. We're going to start off with student licensing and then progress to both teacher and student licenses later in the second half. What's more, Kahoot! EDU is fantastic, but we also have a whole portfolio, a constellation of amazing learning apps that we would love to add to Clever, such as Math Labs by DragonBox and Whiteboard.fi. Those are all going to be coming to both the Clever Library and the Clever App Store for admins to buy. We're not stopping there. To tell you more about how Kahoot! Academy will be integrated with Clever, I'd like to pass you over to my good colleague, Agnete. Hello. Good afternoon, everyone. My name is Agnete Pedersen. Today I will talk about how Clever and Kahoot! Academy can make learning even more accessible and even more engaging together. I lead the Kahoot! Academy business area at Kahoot!. Kahoot! Academy offers highly engaging content to a community of more than 9 million teachers around the world and their students. We work with some of the best publishers and content creators in the world to offer unique content in a content library to our users, covering a wide range of topics and a wide range of languages. The content is available for free and soon commercially available on the Kahoot! Academy marketplace. More than 25 million participating players engaged with the content from Kahoot! Academy every month, both on Kahoot!'s platform and mobile app. So far in this presentation, you have seen how Clever and Kahoot! combined creates a set of unique advantages that can make us even stronger together. Now, I'm happy to announce that we will take this even further with Kahoot! Academy. I'm very excited to announce today that Kahoot! Academy will be coming to Clever. This means that very soon, millions of teachers will be able to log on to Clever and access Kahoot! Academy's world-leading library of learning content, save time, engage their students like never before, and improve learning outcomes. By bringing Kahoot! Academy to Clever, we are connecting teachers from both the ecosystems with not only a range of apps and platforms, but also with some of the best content available. Together, we strengthen both platforms and broaden our reach. We will increase engagement, improve learning outcomes, and strengthen our commercial opportunities together. Content from Kahoot! Academy will be available both for free and through premium commercial solutions. We will continue to offer super engaging kahoots, which our users already love. That's not all. In addition to this, we will also offer the next generation content from Kahoot! Courses. Courses is something we are super excited about and something we truly believe will make our content offering even stronger by increasing both engagement and deeper learning through Kahoot! To take you through more details about Courses, that was also mentioned by Sean D'Arcy earlier today, I'm very happy to introduce my colleague, Osama. Thanks, Agnete. Hello, everyone. I'm Osama Hanif, Director of Product at Kahoot! Kahoot! started off as a multiple choice quiz. Today, millions of educators around the world are using Kahoot! to measure knowledge and make learning fun for learners. They love Kahoot! for that. There are 300 million kahoots played with 1.9 billion participating players in just the last 12 months. We spoke to hundreds of educators globally and discovered that they now want more from Kahoot!. They want solutions not just for the 10 minutes in a session, but for the entire lessons across the whole school year. Teachers use different activities to teach and engage their students. Therefore, we are very excited to introduce Courses this back -to-school. This means teachers can now use Kahoot! for the entire lessons, homework, study guides, and much more throughout the school year. They can create full learning experiences using a variety of activities. In addition to kahoots, they can now use their existing content like slides, documents, and videos, and add engaging activities like Math Labs by DragonBox, Whiteboard, and much, much more. Different subjects and topics require different environments for learning. Therefore, we are enabling teachers to decide which of the activities they want to do in a live classroom setting and which activities they want students to take part in on their own time at home. Over 100 million kahoots on the platform show us how creative teachers and students are when it comes to creating quizzes and inspiring others to create their own. With the new set of tools and activities in the hands of educators, learners, and publishers, the possibilities are just endless. It's going to drive even more usage of the Kahoot! platform. These are not just courses, these are Kahoot! Courses. With the introduction of Courses on the marketplace, it's a great opportunity for teachers and publishers to make their full content available for others, both as free and soon commercially. We offer so many different formats now, they can reuse their existing content in addition to creating new ones. We have millions of teachers globally and a great library of content, now with Courses, it's going to get even bigger. It's a fantastic opportunity, we are just getting started. Over to you, Eilert. Thank you, Osama. It truly is a great opportunity, not only because we have the 9 million teachers on the platform, but the creativity and the opportunity to really build a marketplace, maybe the leading marketplace for both teachers who want to distribute their own IP, but also for all the publishing partners that we are already working with, both in Clever and in Kahoot!. The joint opportunity is awesome. Let's switch into our wrapping up of this session. It's all about making learning awesome together, which is where we started, and that's definitely on top of our priorities going forward. Making sure that our team now can focus fully for the next cycle, which will be back to school next year. Of course, with all the great deliveries that we will have throughout these next 12 months, making sure that we are able to increase value for all teachers, for all students and parents, and of course, at work as well. Not talking about that today, but that's of course, on our agenda as well. When it comes to Kahoot! and Clever, it's all about what's happening in school and with the students. The opportunities we can provide there for both partners and publishers by combining the marketplaces, by combining the way to reach these great communities of teachers, and also giving the teachers the best tools in their hands, as you have seen examples here, both on the Academy side, but also on Kahoot! EDU. Of course, as an organization, working together across the different units and making sure we have a better reach and stronger commercial opportunity, and also using the commercial channels that are both represented in Kahoot! and Clever are great opportunities for us from an operational perspective. Last but not least, following up Tyler's outline of the global expansion of Clever. The Clever stack, which is multi-dimensional when it comes to the different value proposition, both the integration with the student data, but also the app store and the distribution of apps together with partners. Making sure that we can leverage on that and bring that out to the rest of the world, together with the Kahoot!, both presence and experience in that area. Last but not least, of course, the opportunities that also reside in leveraging the financial scalability of the group, as we now have a new unit, and a much stronger setup in the U.S. versus what we had before. All in all, a fantastic opportunity for us to work with the creativity, the delivery, and at the same time optimize how we are building the company going forward. In that aspect, switching over to the financial side, just want to reiterate our guidance for the third quarter and fourth quarter, as presented out a few days ago. Also making sure that this is a consistent messaging as you have seen before. Switching gears to our ambition for 2022. The ability we have to combine the strength of Kahoot! and Clever, building out, both the internal setup to be able to deliver on these opportunities, but at the same time continue to invest for 2022, 2023 and beyond, is on top of our focus list for how we are to scale the operation. Current ambitions for 2022 is that based on the forecasts and also ambitions we have for 2021, that we should look in or end in the range of $190 million-$200 million in invoice revenue next year. Also be able to improve our cash conversion as we do this and growing further. We expect that in this range, we will be able to reach the 30% cash conversion on invoice revenue, which is a great improvement from this year, but also on the right track for our long-term ambitions on our scalability. Of course, on our third quarter presentation, we will add additional information both regarding further guidance, and also more detail on this year and 2022. We just wanna make sure that everyone are able to see the high level ambition that we are working towards with the great new assets coming into Kahoot! from Clever, and also with the opportunity we have around scalability and building, going forward. To sum up, before we go into our short Q&A, bringing Clever into Kahoot! Group is really continuing to lean towards our main areas of both foundation but also on future growth. The ability we have together with Clever to build the brands that is really making a difference in both school, home, and work. The scalability that the Clever platform combined with Kahoot! is representing is a fantastic opportunity. The experienced organization that Clever brings into the Kahoot! Group is also helping us being able to continue to thrive on both development and distribution of our assets. We are continuing to, in the same aspect, also focusing on financial scalability, making sure that we are continuously, relentlessly improving all our services and offerings to all customers in all segments, whether they are using it for free or commercially. Last but not least, making sure that we have a solid foundation so we can continue to grow non-organically, whether that's partnerships, joint ventures, and also future acquisitions. With that, I'm very happy to hand back to Sean, which will lead us to the Q&A today. Thank you, Eilert. Hello, everyone again. We've collected a couple of questions here. A list of questions actually, both before the session today and during the session. If you do have questions, there's a Q&A at the bottom, I believe, of the webinar. You can just sort of add your questions as we go. Hopefully, we'll try to get through as many as we can in 10 minutes. Let's kick things off. Eilert, the first question I have for you is, what are the main operational synergies that you see you can take out of this deal, and what's your approach to cross-selling between Kahoot! and Clever? I think we've touched on a few of those points already. The synergies are obviously based on what we can deliver together, building, for example, the foundation for a marketplace that will be visible and helping customers on the Clever platform. At the same time, reusing that logic and expertise and even code, when we are building out the same kind of marketplace mechanisms on the Kahoot! platform are obviously synergies. It's important to remember that any tech company needs to have a set of both experienced teams, whether it's security or from a legal perspective, and a lot of additional roles that might not be needed to scale in the same way as the unit or as the Kahoot! Group can do going forward. Having the set of features and functionality and also staff for handling several operations inside the group is also a great scalability for us. Most importantly, of course, how can we do a better job together, reaching our customers with our commercial offering and deliver that value into the market? I think being able to deliver both the Kahoot! EDU app on the Clever platform, the Kahoot! Academy marketplace, where you can basically then buy content directly from Kahoot! on the Clever platform, are two very good opportunities for us, which are lower-hanging fruit in the next 12 months. Great. Thank you. You're still in the hot seat, Eilert. I have another one for you. This one I think is coming, bubbled up through the Q&A. There's actually a couple that are a little bit similar, I'm going to ask them both. Out of the ambition of the $190 million-$200 million in invoice revenue in 2022, could you shed some color on how much of this will come from Clever, how much of will be from the former Kahoot!, and what contribution will come from potential new M&As? I'm going to just continue because there's one more question that's pretty similar. Yeah. Now that you've acquired Clever, will you consider a change of disclosure and reporting? Same question with respect to 2023 guidance. Will we see some kind of breakdown, M&A/organic, Clever versus Kahoot!? Yeah. Right. Obviously, great questions. Again, we will provide additional flavor to our both numbers, financial numbers, when we have consolidated the third quarter with Clever as a part of, at least with September on board. Also, we will make sure that we can give hopefully some useful KPIs on behalf of the group going forward. I think it's important to recognize that we have already outlined the speed or velocity of Clever in 2021, and we expect that to somehow continue into 2022, hopefully strengthen slightly, which also implies basically the same velocity on Kahoot! as we have been indicating before. Of course, these ambitions that we have outlined today on 2022 does not include any additional M&A per se. That will be in addition to the ambitions that we are looking at. It is about now our high level of focus to make sure that we are humble but firm on the opportunity to bring Clever and Kahoot! together, but at the same time, starting to plan for the next cycle, which of course, as we mentioned, might include also other non-organic growth initiatives. Great. Thank you, Eilert. Over to you, Tyler. I have a question for you. What are the main routes for monetization of your network in the next 12-24 months, and how do you foresee a successful expansion? For example, expanding to the U.K., or else integrating, doing the integrations with your platform. Yeah. Thanks for the great question. Well, let's see. The first part of your question was. What are the main routes for monetization of your network in the next 12 to 24 months? It's a great question. The main routes, first starting with our core business. Even just here in the U.S. It's doing incredibly well. I think Eilert alluded to the fact that it's ahead of plan. We said we were going to do $44 million in invoice revenue. We've already increased our forecast to $46 million for 2021. Always a good day when you get to join a company and immediately increase your share, your new forecast is higher than what you pitched. The core rostering business is doing really well. It's going to continue to do really well. Layering on the App Store opportunity expands it in a really exciting way. It allows us to create a lot more value. At that point, we're not just integration, but we're then providing full distribution of all the applications on our platform. Both the rostering business and the App Store, they're relevant and exciting in the U.S., but they're also really relevant in new global markets. In fact, I might suggest the App Store even more relevant and creates even more value once Clever is international, because so many of the biggest EdTech companies that we work with, especially those based in the U.S., are craving international distribution. That's a huge problem for them, and it's an area where Clever is going to be able to play a really unique role in helping them grow and monetizing that growth. Anyways, I would say, as we go ahead, the core rostering business is going to continue to grow, and we're going to continue layering that with new and bigger opportunities as well. Great. Thanks, Tyler. Okay, back over to you, Eilert, with this one. When an average school or district upgrades to a paid account, on average, how many new seats do they typically order? I think it's not necessarily easy to say on average. They're both globally, U.S. versus Western Europe versus Asia. What we see is that anything from a teacher buying a paid account, and still individuals' accounts are the biggest part of our business. We also see school districts, or basically school owners, who are buying thousands of licenses on behalf of their teachers or institutions. We'll, of course, continue to build this out. EDU, that Sean presented earlier today, wasn't launched until late last year, so it has been nine months in the market, and this is the first back to school we have, so we are super excited about the opportunity. As always, it takes time to both establish and to maximize and to continue to develop. Very good feedback so far as we have seen the numbers, but also great opportunity for us to continue to build out as we also have outlined today. Great. As a follow-on, we have some questions regarding Academy. Will Kahoot! Academy work as a sort of platform where people can sell their courses and perhaps make a living as a "Kahooter" by creating high-quality Kahoot! courses? Sort of comparing Academy to YouTube, except Academy, hopefully, as it won't be ad-based, will be sort of more of a pay-to-play. Yeah, absolutely. It's definitely an opportunity for us to both build a platform with the volume that we already see on the platform, both on the creator side and the consumer side of content. Also, which I think is a great point here, how can we basically make this platform solid enough so it actually is possible to make a living off using that platform? Of course, the combination of being able to wrap the content in a way so that you, as a creator, are sure that it's not going to be copied, and that you cannot share it with your friends if you buy the course, but that you have to consume it with your named account. At the same time, we of course, will not introduce ads, but rather make sure that you as an IP owner can basically decide exactly how you want it to be presented to your audience. It's not limited to teachers by any means. It's for individuals, it's going to be for professionals, for businesses, and it's going to be a marketplace on the same mechanism for any course in any language, in any segment around the world, even though we just are focusing now today on the teacher and Clever dimension of this. Great. Thank you. We're going to run out of time soon, so we're going to have to go into speed round here. We might have time for two quick questions. This can go to both Eilert and Tyler. We have a question regarding competition. Which company would you categorize as the strongest or closest competitor in the U.S. market, and what differentiates them from Clever/Kahoot!? Tyler? There's a number of different categories which we compete in. The first is the single sign-on portal category. There's lots of other companies who want to be the single sign-on portal for schools and districts. Clever is by far the market leader. There's companies out there building rival portals for schools and districts. Some of the names you might see out there, Onboard, RapidIdentity, ClassLink, Okta, Active Directory, things like that. There's a category of products which are not directly competitive with Clever, but that we often get compared to, called LMSs. I saw there was a question about how is Clever different from Blackboard. Most LMSs are actually customers of Clever, their apps are just one of the many things that people access through the Clever platform, whether they're Google Classroom or Schoology or Canvas or any of the big K-12 LMSs. As we begin to offer first-party products like the identity management piece that I mentioned earlier in the presentation, there's a whole other subset of companies that will do just that for districts. Many of them are regional players or IT consultancies, and Clever is one of the first kind of really streamlined, self-service solutions in that identity management space for school districts. I hope that's responsive to the question in terms of some of the different areas where Clever plays. The important point is that in every market that Clever plays in, Clever is by far the market leader in terms of market share and usage, and that's something we're really committed to maintaining and growing. Wonderful. Thank you, Tyler. Okay, last question. Eilert, final, really quick one. We're in overtime now. Any news regarding a secondary listing? Does Clever accelerate that plan? First of all, as we outlined when we announced the closing, that this is about making sure that we both close the transaction of Clever. We need to, of course, consolidate up the group. That's then what we will focus on. It's definitely there. It's also mentioned on the slides today, I'm not reiterating that word by word every presentation. Of course, this is something that the board will continue to work on, also which is in our plans. That said, right now it has been focusing on closing, of course, back to school. I think back to school with a super high season and activity are in the August, September, October timeframe, is top of the list for both the Clever team and the Kahoot! team in the coming weeks. We'll get back to regular programming as of Q4. Great. I guess that's it. Back over to you, Eilert, to sum it up. Well, first of all, thank you very much, everyone, for listening in. Truly appreciate your time. We will have more details on the Q3 presentation as outlined before. Really hope that anyone with additional comments or questions will follow up with us, and do not hesitate to connect. With that, I wish you all a great day, and I really hope that we will see you soon on the Q3 presentation.