Blackboard Inc.
Company: Blackboard Inc.
Company Description: Blackboard Inc. was founded with a vision to transform the Internet into a powerful environment for the education experience. Blackboard is a leading provider of e-Education solutions serving the global needs of primary and secondary schools, higher education, corporations and government agencies. The company is based in Washington, D.C., with offices across North/South America, Europe, Asia.
Nomination Category: Company, Office & Product Awards Categories
Nomination Sub Category: Best Overall Company
Nomination Title: Blackboard Inc.
Tell the story about what this nominated company achieved in 2003 (up to 500 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms. Be sure to mention obstacles overcome, innovations or discoveries made, and outcomes:
Blackboard Inc. was founded with a vision to transform the Internet into a powerful
environment for the education experience. Blackboard is a leading provider of e-
Education solutions serving the global needs of primary and secondary schools,
higher education, corporations and government agencies. Blackboard is
headquartered in Washington, D.C., with offices across North and South America,
Europe and Asia.In 1997, two education consultants – Matthew Pittinsky and Michael Chasen –
formed Blackboard LLC and were contracted to help lead the formation of the
EDUCAUSE IMS standards project for online education technology. At the same
time, a student-faculty team at Cornell University was developing a software
product that would power online education and be scalable for wider institutional
application. Recognizing the high demand for a good, easy-to-use, affordable
online education software platform, the two groups merged in June 1998 to form
Blackboard Inc.A privately-held company, Blackboard Inc. has raised more than $100 million in
capital from top-tier strategic, venture capital, and private equity investors.Blackboard’s 2003 highlights:
· One of the most talked about stories in 2003 was Blackboard and
CERNET Corporation’s formation of CERNET-Blackboard Information Technology Company, LTD, which aims to accelerate the adoption of e-Education
technologies throughout China. The New York Times, the International Herald
Tribune, the Washington Post, Education Week and others covered the new
company, which has already launched the Study Center and begun licensing the
Blackboard Learning System to education institutions throughout China.· In addition, many new clients signed on in the last quarter of 2003
alone including such large school systems as California State University System,
Vermont State Colleges, Department of Defense Education Activity, Baltimore City
Public Schools, Columbus Public Schools, Michigan Virtual University, Sycamore
Public Schools, Los Angeles Unified School District’s Virtual Academy, the Virtual
High School, and others.· Blackboard was named the fastest growing private education company
in the annual Inc. 500 rankings. Blackboard’s 11,047% revenue growth from 1998 through 2002 also earned the Company the #6 ranking in the overall list of the Inc.
500. Blackboard’s yearly revenue was $620,000 in 1998 and $69.2 million in 2002.· Blackboard announced the development of an education-specific
learning content management and e-Portfolio system – the Blackboard Content
System™. Slated for general release in the fourth quarter of this year, the
Blackboard Content System will benefit students, faculty and campus IT
administrators by lowering the costs and increasing the simplicity of managing
learning content, digital assets and e-Portfolios in an enterprise learning
environment. Already, two clients have decided to license the new Blackboard
Content System in advance of its pending launch.· Also in 2003 Blackboard held the first annual Blackboard Building
Blocks Developers Workshop. More than 100 academic and commercial
developers of next-generation e-Learning technologies attended the conference,
which marked the first dedicated developer event for a major commercial e-
Learning platform in the academic market, and a milestone for course
management systems.
List hyperlinks to any online news stories, press releases, or other documents that support the claims made in the section above. IMPORTANT: List each link on a separate line, begin each link with http://, and enclose each link in square brackets; for example, [http://www.website.com]:
12 People to Watch-WBJ
http://washington.bizjournals.com/washington/stories/2004/01/05/story1.htmlCERNET-Education Week http://www.edweek.org/ew/ewstory.cfm?slug=04China.h23&keywords=Blackboard
CERNET-International Herald Tribune http://www.iht.com/ihtsearch.php?id=108305&owner=(IHT)&date=20030902131548
CERNET press release http://www.blackboard.com/about/press/prview.htm?id=254
Third Quarter Revenue Press Release
http://www.blackboard.com/webadmin/press/pressview.asp?y=&id=260Inc. 500-Inc. Magazine http://www.inc.com/inc500/profiles/profilesindex.html
USA Today http://www.ipohome.com/ipoplus/press/usatoday_120403.asp
Content Management System-Syllabus
http://www.syllabus.com/news_issue.asp?id=154&IssueDate=11/12/2003
http://www.syllabus.com/news_issue.asp?id=154&IssueDate=10/15/2003
Provide a brief (up to 100 words) biography about the leader of this nominated company:
Michael Chasen, Blackboard’s chief executive officer, brings to the company and
its clients an expertise in managing fast growth Internet software companies,
and a passion for the Internet’s pedagogical potential for the education industry.
Mr. Chasen is responsible for developing and implementing Blackboard’s vision
and business strategy.At Blackboard, Mr. Chasen’s work has expanded the company’s leadership in the
platform market, providing the company a series of highly synergistic business
lines that leverage its traditional Blackboard 5TM solution and Web site resources
in a way that aid educational institutions, students, and faculty alike.MBA from Georgetown University.