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Blackbaud was founded in 1991 by a former Microsoft executive.
Answer: False
Explanation: The source material indicates that Blackbaud was founded in 1981 by Anthony Bakker, not in 1991 by a former Microsoft executive.
Blackbaud's very first product was a CRM system designed for large corporations.
Answer: False
Explanation: Blackbaud's initial product was 'Student Billing,' an accounts receivable system developed for private grade schools, not a CRM for large corporations.
Blackbaud relocated from New York City in 1989 primarily to expand its market reach into the Midwest.
Answer: False
Explanation: The relocation from New York City in 1989 was primarily driven by high operational costs, not an expansion into the Midwest market. The company moved to Mount Pleasant, South Carolina.
The transition from DOS to Windows 95 in 1994 led to a decrease in Blackbaud's sales.
Answer: False
Explanation: The transition to Windows 95 in 1994 resulted in a significant increase in Blackbaud's sales, not a decrease.
Blackbaud's first product, Student Billing, was developed from an initial project for a private school in Manhattan.
Answer: True
Explanation: The source confirms that Blackbaud's initial product, Student Billing, originated from a project undertaken for the Nightingale-Bamford School in Manhattan.
Blackbaud's move to Mount Pleasant, South Carolina in 1989 was facilitated by a significant business loan.
Answer: True
Explanation: The company's relocation from New York City to Mount Pleasant, South Carolina, in 1989 was indeed supported by a substantial business loan of $750,000.
Based on the provided information, ascertain the founding year of Blackbaud and identify its founder.
Answer: 1981 by Anthony Bakker
Explanation: The source material indicates that Blackbaud was founded in 1981 by Anthony Bakker.
What was Blackbaud's initial product, and for which type of client was it designed?
Answer: Student Billing; private grade schools
Explanation: Blackbaud's inaugural product was 'Student Billing,' an accounts receivable system specifically developed for private grade schools.
Why did Blackbaud relocate from New York City in 1989?
Answer: Due to high operational costs.
Explanation: The relocation from New York City in 1989 was primarily motivated by the high operational costs associated with maintaining a presence in that location.
What was the impact of Blackbaud's transition from DOS to Windows 95 in 1994?
Answer: It resulted in a significant increase in sales.
Explanation: The strategic migration of Blackbaud's software offerings from DOS to Windows 95 in 1994 precipitated a notable surge in the company's sales figures.
Blackbaud's first product, Student Billing, was developed from an initial project for which specific school?
Answer: The Nightingale-Bamford School in Manhattan
Explanation: The initial project that led to Blackbaud's first product, Student Billing, was for the Nightingale-Bamford School, located in Manhattan.
Which of the following statements accurately describes the transition of Blackbaud's software offerings in 1994?
Answer: Transition from DOS to Windows 95.
Explanation: In 1994, Blackbaud transitioned its software product line from the DOS operating system to the more advanced Windows 95 environment.
Blackbaud acquired its primary competitor, Master Software, in the early 2000s.
Answer: False
Explanation: The acquisition of Master Software, considered Blackbaud's primary competitor at the time, occurred in the mid-1990s, not the early 2000s.
Blackbaud became a publicly traded company in 2004 after its initial public offering (IPO).
Answer: True
Explanation: The source confirms that Blackbaud completed its initial public offering (IPO) in 2004, thereby becoming a publicly traded entity.
Blackbaud acquired the online donor management tool eTapestry in 2007 and Kintera in 2008.
Answer: True
Explanation: The provided information confirms that Blackbaud acquired eTapestry in 2007 and Kintera in 2008 as part of its strategic growth.
The acquisition of Convio in 2012 was led by current CEO Mike Gianoni.
Answer: False
Explanation: The acquisition of Convio in 2012 was led by Anthony Boor, who served as interim CEO, not Mike Gianoni, who became CEO later in 2013.
Blackbaud acquired MicroEdge in 2014 for $160 million, a company serving foundations.
Answer: True
Explanation: The acquisition of MicroEdge, a company that provided software solutions for foundations, was completed by Blackbaud in 2014 for a sum of $160 million.
Blackbaud acquired the popular social media platform Facebook in 2017.
Answer: False
Explanation: Blackbaud did not acquire Facebook in 2017. In 2017, Blackbaud acquired JustGiving, a platform focused on online fundraising.
The acquisition of Reeher in 2018 was intended to enhance Blackbaud's capabilities in predictive modeling for colleges and universities.
Answer: True
Explanation: Blackbaud acquired Reeher in April 2018 for $40 million, specifically to bolster its expertise in predictive modeling for educational institutions.
YourCause, acquired by Blackbaud in 2019, is a company focused on providing cloud infrastructure for gaming companies.
Answer: False
Explanation: YourCause, acquired by Blackbaud in 2019, specializes in software as a service (SaaS) for corporate giving and employee volunteering, not cloud infrastructure for gaming companies.
Which company, considered Blackbaud's primary competitor at the time, was acquired by Blackbaud in the mid-1990s?
Answer: Master Software
Explanation: In the mid-1990s, Blackbaud acquired Master Software, which was recognized as its primary competitor during that period.
In what year did Blackbaud complete its initial public offering (IPO)?
Answer: 2004
Explanation: Blackbaud successfully executed its initial public offering (IPO) in the year 2004.
Who succeeded Robert Sywolski as CEO, and what was his relevant background?
Answer: Marc Chardon, former CFO of Microsoft's information worker group
Explanation: Marc Chardon succeeded Robert Sywolski as CEO. His background included serving as the chief financial officer for Microsoft's information worker group.
Which of the following was NOT among Blackbaud's key acquisitions in the late 2000s?
Answer: Convio (2012)
Explanation: Convio was acquired by Blackbaud in 2012, which falls outside the late 2000s period. Key acquisitions during that timeframe included eTapestry (2007) and Kintera (2008).
Blackbaud acquired Convio in 2012. Who was credited with leading this acquisition?
Answer: Anthony Boor
Explanation: Anthony Boor, who later served as interim CEO, was credited with leading the acquisition of Convio in 2012.
What was the approximate value of Blackbaud's acquisition of MicroEdge in 2014?
Answer: $160 million
Explanation: Blackbaud acquired MicroEdge in 2014 for a transaction value of $160 million.
In 2017, Blackbaud purchased JustGiving, a major platform primarily used for what purpose?
Answer: Online fundraising
Explanation: JustGiving, acquired by Blackbaud in 2017, is a prominent platform primarily utilized for facilitating online fundraising activities.
What type of software does YourCause, acquired by Blackbaud in 2019, specialize in?
Answer: Corporate giving and employee volunteering enhancement
Explanation: YourCause, acquired by Blackbaud in 2019, specializes in software solutions designed to enhance corporate giving programs and employee volunteering initiatives.
What was the purpose of Blackbaud's acquisition of Reeher in 2018?
Answer: To enhance predictive modeling capabilities for educational institutions.
Explanation: The acquisition of Reeher in 2018 was strategically undertaken to augment Blackbaud's proficiency in predictive modeling, particularly for educational institutions.
Blackbaud, Inc.'s primary business focus is the provision of cloud computing solutions tailored for the financial services industry.
Answer: False
Explanation: The provided information indicates that Blackbaud, Inc. specializes in cloud computing solutions for the social good sector, not primarily the financial services industry.
Raiser's Edge, Blackbaud's flagship product, accounted for over 50% of the company's total revenue in 2012.
Answer: False
Explanation: According to the source, Raiser's Edge accounted for thirty percent of Blackbaud's total revenue in 2012, not over 50%.
Blackbaud CRM is primarily designed for mid-tier organizations and integrates with Salesforce.com.
Answer: False
Explanation: Blackbaud CRM is positioned as the company's lead offering for larger organizations requiring complex task management. Luminate CRM is the product designed for mid-tier organizations that integrates with Salesforce.com.
Financial Edge NXT is Blackbaud's cloud-based system for managing customer relationships.
Answer: False
Explanation: Financial Edge NXT is Blackbaud's cloud-based fund accounting system, not a customer relationship management (CRM) system.
What is the primary business focus of Blackbaud, Inc.?
Answer: Providing cloud computing solutions for the social good sector.
Explanation: Blackbaud, Inc. specializes in providing cloud computing solutions and services specifically designed for organizations operating within the social good sector.
Which of the following is NOT a type of organization that Blackbaud primarily serves?
Answer: For-profit retail corporations
Explanation: Blackbaud's core client base comprises organizations within the social good sector, including nonprofits, educational institutions, and religious organizations. For-profit retail corporations are not among its primary service targets.
What was Blackbaud's flagship product mentioned in the source, and what percentage of its 2012 revenue did it represent?
Answer: Raiser's Edge; 30%
Explanation: The source identifies Raiser's Edge as Blackbaud's flagship product, which contributed thirty percent of the company's total revenue in 2012.
Which of Blackbaud's primary CRM offerings is described as being fully integrated with Salesforce.com and targeted towards mid-tier organizations?
Answer: Luminate CRM
Explanation: Luminate CRM is identified as Blackbaud's offering designed for mid-tier organizations, featuring full integration with Salesforce.com.
What is the primary function of Financial Edge NXT?
Answer: Serving as a cloud-based fund accounting system.
Explanation: Financial Edge NXT functions as Blackbaud's cloud-based system dedicated to fund accounting.
Which of the following is a key functional area addressed by Blackbaud's products?
Answer: Fundraising and constituent relationship management (CRM)
Explanation: Blackbaud's product suite primarily addresses critical functions within the social good sector, notably fundraising and constituent relationship management (CRM).
Blackbaud CRM is described as the company's lead offering for which type of organization?
Answer: Larger organizations requiring complex task management.
Explanation: Blackbaud CRM is positioned as the company's primary solution for larger organizations that require sophisticated task management capabilities.
Blackbaud's headquarters have always been located in Charleston, South Carolina.
Answer: False
Explanation: While Blackbaud's current headquarters are in Charleston, South Carolina, the company originated in New York City and later relocated to Mount Pleasant and North Charleston, South Carolina, before establishing its current location.
In 2021, Blackbaud transitioned to a fully in-office work model, closing its remote operations.
Answer: False
Explanation: Contrary to this statement, in 2021 Blackbaud adopted a remote-first approach and closed its regional offices, rather than transitioning to a fully in-office model.
Mike Gianoni is the founder of Blackbaud, Inc.
Answer: False
Explanation: The source identifies Anthony Bakker as the founder of Blackbaud in 1981. Mike Gianoni is the current CEO, appointed in November 2013.
Marc Chardon, former CFO of Microsoft's information worker group, became CEO of Blackbaud in 2005.
Answer: True
Explanation: Marc Chardon, who previously held a senior financial role at Microsoft, assumed the position of CEO at Blackbaud in November 2005.
Blackbaud, Inc. is often confused with Blackboard Inc., but they are distinct entities.
Answer: True
Explanation: The source material explicitly notes that Blackbaud, Inc. should not be confused with Blackboard Inc., confirming they are separate corporate entities.
Blackbaud's 2022 financial reports showed a positive operating income but a negative net income.
Answer: False
Explanation: Blackbaud's 2022 financial reports indicated both a negative operating income (-$28 million) and a negative net income (-$45 million).
Blackbaud's total revenue in 2022 exceeded $2 billion.
Answer: False
Explanation: Blackbaud's total revenue in 2022 was reported as US$1.06 billion, which does not exceed $2 billion.
In 2022, Blackbaud's total assets were approximately $744 million.
Answer: False
Explanation: In 2022, Blackbaud's total assets were approximately US$2.99 billion. The figure of US$744 million represented its total equity for that year.
Where is Blackbaud's current headquarters located?
Answer: Charleston, South Carolina
Explanation: Blackbaud's current headquarters are situated in Charleston, South Carolina.
What significant change did Blackbaud implement regarding its office structure in 2021?
Answer: Adopted a remote-first approach and closed regional offices.
Explanation: In 2021, Blackbaud transitioned to a remote-first operational model, which involved the closure of its regional offices while maintaining its headquarters.
Who is identified as the current Chief Executive Officer (CEO) of Blackbaud?
Answer: Mike Gianoni
Explanation: Mike Gianoni is currently serving as the President and CEO of Blackbaud, having assumed the role in November 2013.
What is Blackbaud's ticker symbol on the Nasdaq stock exchange?
Answer: BLKB
Explanation: Blackbaud's shares are traded on the Nasdaq stock exchange under the ticker symbol BLKB.
In 2022, Blackbaud reported a negative operating income and a negative net income. What were these values?
Answer: Operating income: -$28M, Net income: -$45M
Explanation: For the fiscal year 2022, Blackbaud reported an operating income deficit of US$28 million and a net income deficit of US$45 million.
What did Blackbaud's 2022 financial report indicate regarding its total assets and total equity?
Answer: Assets: $2.99 billion, Equity: $744 million
Explanation: According to the 2022 financial report, Blackbaud's total assets amounted to approximately US$2.99 billion, while its total equity was reported at US$744 million.
Blackbaud experienced a significant cyber attack in May 2020, leading to the theft of customer data.
Answer: True
Explanation: In May 2020, Blackbaud was subjected to a significant cyber attack during which customer data was compromised, and the company subsequently paid a ransom.
Following the 2020 cyber attack, Blackbaud refused to pay any ransom to the attackers.
Answer: False
Explanation: The source indicates that Blackbaud did pay a ransom to the attackers following the 2020 cyber attack in exchange for confirmation that the stolen data was deleted.
The 2020 Blackbaud cyber attack affected fewer than 50 customers, primarily located in Europe.
Answer: False
Explanation: The cyber attack impacted over 100 customers, including organizations in the United Kingdom, the United States, the Netherlands, and Canada, not fewer than 50 primarily in Europe.
Blackbaud was praised for its swift and transparent disclosure of the 2020 cyber attack to regulatory authorities and customers.
Answer: False
Explanation: Blackbaud faced criticism for its handling of the 2020 cyber attack, particularly concerning the delay in disclosure to data authorities, which contravened regulations like GDPR.
In a 2020 SEC filing, Blackbaud's CFO admitted that only non-sensitive customer information like email addresses was compromised.
Answer: False
Explanation: Contrary to this statement, Blackbaud's CFO admitted in a 2020 SEC filing that sensitive data, including bank account information and Social Security numbers, had been compromised.
The U.S. Securities and Exchange Commission (SEC) fined Blackbaud $3 million in March 2023 for failing to disclose the compromise of donor bank account information and Social Security numbers.
Answer: True
Explanation: In March 2023, the U.S. Securities and Exchange Commission (SEC) imposed a $3 million penalty upon Blackbaud for its failure to disclose the compromise of donor bank account information and Social Security numbers in its filings.
Blackbaud settled claims related to the 2020 ransomware attack with 49 U.S. states and the District of Columbia for approximately $10 million.
Answer: False
Explanation: The settlement with 49 U.S. states and the District of Columbia regarding the 2020 cyber attack amounted to $49.5 million, not approximately $10 million.
The Federal Trade Commission (FTC) settlement with Blackbaud in February 2024 focused on improving the company's data handling practices.
Answer: True
Explanation: The February 2024 settlement between the Federal Trade Commission (FTC) and Blackbaud centered on enhancing the company's data handling protocols, including data retention and deletion policies.
Blackbaud suffered a significant cyber attack in May 2020. What was a major consequence mentioned in the source?
Answer: Customer data was stolen, and Blackbaud paid a ransom.
Explanation: A major consequence of the May 2020 cyber attack was the theft of customer data, following which Blackbaud paid a ransom to the perpetrators.
Which of the following was a reason Blackbaud faced criticism regarding its handling of the 2020 cyber attack?
Answer: Paying the ransom to cybercriminals.
Explanation: Blackbaud faced criticism for paying the ransom to cybercriminals, as well as for delays in disclosing the incident to regulatory authorities, which potentially violated data protection regulations.
How many customers were affected by the 2020 Blackbaud cyber attack, and what types of organizations were included?
Answer: Over 100; including universities and charities.
Explanation: The 2020 cyber attack impacted over 100 customers, encompassing a range of organizations such as universities and charities.
What sensitive customer information was later admitted by Blackbaud's CFO to have been compromised in the 2020 cyber attack?
Answer: Customer bank account information and social security numbers.
Explanation: In a subsequent filing, Blackbaud's CFO acknowledged that sensitive data, including customer bank account information and social security numbers, had been compromised during the 2020 cyber attack.
What was the financial penalty imposed on Blackbaud by the U.S. Securities and Exchange Commission (SEC) in March 2023?
Answer: $3 million
Explanation: The U.S. Securities and Exchange Commission (SEC) imposed a financial penalty of $3 million on Blackbaud in March 2023.
What was the approximate amount of the financial settlement Blackbaud reached with 49 U.S. states and the District of Columbia regarding the 2020 cyber attack?
Answer: $49.5 million
Explanation: Blackbaud settled claims arising from the 2020 cyber attack with 49 U.S. states and the District of Columbia for approximately $49.5 million.
Which regulatory body required Blackbaud to establish a data retention policy and delete unneeded personal information as part of a February 2024 settlement?
Answer: The Federal Trade Commission (FTC)
Explanation: The Federal Trade Commission (FTC) mandated Blackbaud's implementation of a data retention policy and the deletion of superfluous personal information through a settlement agreement in February 2024.
The 'Reward your Passion' initiative allows Blackbaud employees to receive paid time off for volunteering.
Answer: False
Explanation: The 'Reward your Passion' initiative provides company-funded grants for charities chosen by employees. Paid time off for volunteering is associated with the 'Volunteer for Vacation' initiative.
What is the 'Volunteer for Vacation' initiative at Blackbaud?
Answer: A program providing paid time off for employees to engage in community service.
Explanation: The 'Volunteer for Vacation' initiative is a Blackbaud program that grants employees paid time off specifically for engaging in community service activities.
The 'Reward your Passion' initiative allows employees to:
Answer: Secure company-funded grants for charities of their choice.
Explanation: Through the 'Reward your Passion' initiative, Blackbaud employees can secure company-funded grants designated for charities they select.
What is the significance of the 'Business Doing Good' program launched by Blackbaud in 2013?
Answer: It guides small and medium-sized businesses in establishing philanthropy programs.
Explanation: Launched in 2013, the 'Business Doing Good' program aims to assist small and medium-sized businesses in developing and implementing their own corporate philanthropy initiatives.