Blackboard: A Big Name on Campus?

JULY 20, 2004 Blackboard (BBBB ) entered the market on June 18 at $14 a share, then rose to $23.38 and finally closed the day at $20.01. With 5.5 million offered shares, representing 21.5% of the company, Blackboard raked in $77 million. IPO analyst Tom Taulli liked what he saw: "This IPO seemed to excite investors, and they seemed to go ahead and jump on the bandwagon," he says.