Cloud software giant Blackbaud has acquired social impact technology company Everfi for $750 million in a cash and stock deal. Blackbaud -- which provides cloud software services to nonprofits, higher education institutions, K–12 schools, healthcare organizations, faith communities, arts and cultural organizations, foundations and companies -- will give Everfi shareholders about $450 million in cash and $300 million worth of company common stock. The Washington D.C.-based Everfi specializes in "impact-as-a-service," providing cloud-based software and other tools to private, public and social sector organizations. Everfi also works with corporations on environmental, social and governance (ESG) and corporate social responsibility (CSR) goals. Globally, the company has "reached" more than 45 million people through its technology and learning platform.
More than 13,000 students have completed the MarketWorks course since the program launched in 2018, across 325 schools in Chicago, Dallas and New York. Students that complete the program demonstrate on average a 55 percent increase in assessment scores on key investing topics, and 56 percent more students reported feeling prepared to determine how current events will impact the markets and economy after taking the course. "We are passionate about providing educational opportunities in finance that open pathways for success. We believe all students should have access to this curriculum that will impart critical knowledge and empower them with stronger financial decision skills in their everyday lives," said Gerald Beeson, Chief Operating Officer of Citadel and the Program's Executive Sponsor. "MarketWorks has already expanded financial understanding for more than thirteen thousand students, and we are proud to bring this program to students, families and schools across the country, especially during this time when it is needed more than ever."
More than 2,000 people died of drug and alcohol overdoses in Maryland last year -- a record number that is part of the nation's opioid-abuse crisis. As part of their response, Maryland legislators have passed a law requiring that students be educated four times -- twice in elementary school, once in high school and once at the college level for incoming full-time students -- on the dangers of opioids, including heroin. The law applies to all higher education institutions that accept state money -- and so includes private colleges as well -- and requires naloxone (which can be used in cases of overdoses) to be stocked by campus police and public safety officers. Preventative education for new students is nothing new for higher ed, as colleges often offer or require student participation in programs aimed to prevent drug and alcohol abuse or sexual assault. At the same time, despite the widespread use of training and seminars, alcohol abuse and sexual assault -- which often go hand in hand -- remain major problems in higher education.
It is one of the many reasons that we are so proud of the diverse group of communities we support through the EVERFI learning platform to inspire the next generation of STEM professionals. Through the support of public and private partners, we are able to reach millions of students each year at no cost to schools. EVERFI's online education addresses critical skills from financial literacy to health and wellness to STEM exploration. Our more than 100 former educators work directly with school administrators to find the right curriculum fit for these web-based tools. We provide professional development and ongoing technical support to teachers as they bring STEM concepts and careers to life through immersive instructional technology.
On Wednesday, rapper 21 Savage announced the creation of a new free online financial literacy program, Bank Account at Home, which will focus on helping kids in grades K-12 feel more empowered when it comes to making decisions with their money. So, what specifically is included in the "Secret" musician's educational effort? According to Chime, a financial services company that partnered with Savage's personal foundation, Leading By Example, as well as Juma Ventures and EverFi, an education technology platform to present Bank Account at Home, the program was created in order to give targeted lessons about finances for elementary, middle, and high school students. For the youngest age group, the "Vault" section of the program will focus on topics such as making responsible choices, borrowing money, and choosing a career when they get older. Questions about how their families spend money based on their wants and needs, along with a discussion surrounding financial mistakes, will be addressed in a range of ways, including graphic organizers and worksheets.