Blackboard is a software company that provides educational technology solutions for schools colleges and universities. The company blackboard gmu was founded in 1997 and has grown to become one of the largest players in the edtech industry. In this article we’ll explore who owns Blackboard and its history.
Blackboard Early Days
Blackboard was founded by Matthew Pittinsky Michael Chasen and Daniel Cane in 1997. The company initial goal was to create a platform for online learning that could be used by colleges and universities. In its early days Blackboard faced competition from other online learning platforms such as WebCT.
Blackboard Goes Public
In 2004 Blackboard went public and its shares were traded on the NASDAQ stock exchange. This move allowed Blackboard to raise additional capital and expand its operations. The company continued to develop its learning management system which included tools for online course delivery student assessment and collaboration.
Blackboard Acquisition of WebCT
In 2006 Blackboard acquired WebCT its biggest competitor in the online learning market. The acquisition made Blackboard the dominant player in the edtech industry with a market share of over 70%. The move also enabled Blackboard to expand its product offerings and provide more comprehensive solutions for its customers.
Blackboard Ownership Changes
In 2011 Blackboard was acquired by a consortium of private equity firms including Providence Equity Partners and Leeds Equity Partners. The deal was worth $1.64 billion and took Blackboard private. This move allowed Blackboard to focus on its longterm strategy without the pressures of being a public company.
In 2016 Blackboard was acquired by an affiliate of the private equity firm Veritas Capital. Veritas Capital is a New Yorkbased investment firm that specializes in government and technology businesses. The deal was worth $3.1 billion and made Blackboard a privately held company once again.
Today Blackboard continues to provide educational technology solutions for schools colleges and universities. The company product offerings include a learning management system student engagement tools analytics and more. Blackboard serves over 20000 customers in over 100 countries and has offices in North America Europe Asia and Australia.
In conclusion Blackboard is currently Web developer owned by Veritas Capital a private equity firm. The company has a rich history which includes its founding in 1997 its IPO in 2004 its acquisition of WebCT in 2006 and its ownership changes in 2011 and 2016. Despite these changes Blackboard remains a leader in the edtech industry and continues to provide innovative solutions for educators and students around the world.
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