That focus would soon be put to the test by compelling opportunities that are doable, but not within their narrow strategic focus e.g. He and a new partner left to start a virtual card venture focused on the higher education market. When Student Advantage ultimately (and somewhat predictably), ran out of money and was liquidated, the campus card segment was sold to Blackboard. Taren, who was heading up the campus card division, was astounded at how little attention was being paid to pursuing viable revenue models. Blackboard Transact SaaS (formerly known as CardSmith) works with educational institutions, private label card issuers, card-accepting businesses and contracted business partners such as SodexoMAGIC to provide the highest quality services possible.
Cardsmith joins blackboard full#
Through the move, Blackboard will be able to deliver a full set of reliable and scalable deployment options to schools, according to Blackboard Transact's. In 1999-near the peak of the Internet bubble-they were scooped up by Student Advantage, a 'high-concept' venture-backed dot-com that was spending millions to build online market share in the higher-education space. By taking over CardSmith's operations Blackboard said that it will provide cloud and locally-hosted processing solutions with in-house or outsourced management to a broader range of schools. The entrepreneurs funded their expansion with informal investments from family, friends, angels, and a bank loan. By the time founder Taren Lent and his partner took their system online in 1996, the 'Green Card' had a broad campus following, significant vendor participation, and average monthly revenue of $160,000. The enterprise began as a paper-based debit card that enabled Dartmouth College students to purchase merchandise at participating local pizza shops, copy centers, coffeehouses and the like. It does not store any personal data.This case follows a classic student venture from on-campus conception in 1994, to harvest during the late 90s Internet wave, to its rebirth as a virtual business model. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies.
The cookie is used to store the user consent for the cookies in the category "Performance". Blackboard Blackboard provides enterprise technology and innovative solutions that enhance teaching and learning methods. This cookie is set by GDPR Cookie Consent plugin. Blackboard acquires CardSmith on for an undisclosed amount. The cookie is used to store the user consent for the cookies in the category "Other. This cookie is set by GDPR Cookie Consent plugin. The terms of the deal for these privately-held firms were not released. The two companies both have card-based campus payment systems, and it was common for them to face off in vying for business. The cookies is used to store the user consent for the cookies in the category "Necessary". 08/07/14 Blackboard has acquired CardSmith, a competitor in the student debit card business. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". The cookie is used to store the user consent for the cookies in the category "Analytics". These cookies ensure basic functionalities and security features of the website, anonymously. Necessary cookies are absolutely essential for the website to function properly.
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