[LINK] Blackboard's quarterly revenue up 291 percent

[Tony Barry]

Extracted item provided for information.

Source: Edupage, March 13, 2002
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BLACKBOARD'S QUARTERLY REVENUE UP 291 PERCENT
E-learning software company Blackboard announced total 2001
revenues of $46.5 million, a 291 percent increase. Blackboard,
with 2,300 customers, expects $70 million in revenues for 2002,
which would make it profitable by the third quarter. Research firm
Eduventures said Blackboard has shot ahead of competitors ECollege
and WebCT, which respectively registered $19.8 million and an
estimated $10-15 million in revenues for last year. Blackboard
CEO Michael L. Chasen said the company is pressing to prove the
financial viability of their business model, which works to
provide software for the online postsecondary education market,
not because of any plans for an initial public offering, but to
assure customers of the company's longevity.
(Washington Post, 11 March 2002)
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