Blackboard

From time to time I’ll profile remarkable companies in this blog... remarkable in terms of market leadership, profitability, business practice innovations and the like. Blackboard, Inc. (NASDAQ: BBBB) is one such company.

Here’s some of what’s noteworthy:

• 32% increase in quarterly revenue in Q4 2007 over the same period in 2006
• Revenue growth came from licensing, professional services and hosting services—so nicely spread across the business
• Total revenue for 2007 was $239 million, which is 31% over 2006
• Income was $12.9 million, compared to a loss in 2006
• Higher-ed customers continue to grow nicely
• International and K-12 growth are both solid

Outside of the recent performance of the business, over the past several years they’ve built a remarkable leadership position in the US education market—particularly higher-ed. I don’t have all the numbers, but it’s been suggested to me that they may have upwards of 80% market share. Growth has come organically through sales performance and a product that has been improved. And growth has come inorganically through acquisitions; most recently Blackboard completed the acquisition of The NTI Group, Inc. Finally, it’s noteworthy that the founders are still running the business.