Glad to see that the ELT is taking responsibility for a bad acquisition. A ‘nominal amount’ of accountability would go a long way
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It wasn’t just a bad acquisition. After they acquired EVERFI they laid off a bunch of EVERFI account managers and sales folks. The people who were left were told to “wear one jersey” and also sell YourCause + Grants Connect, etc. Leadership essentially shot Everfi in the foot by taking away all the people who managed the accounts and forcing sales people to shift their focus to other products. Bad leadership and poor management from both BB and Everfi leadership. BB leadership forced EVERFI into significant process and product management changes. Everfi leadership couldn’t make up their mind on what to build and hasn’t shipped any meaningful product updates in the entire time post-acquisition. Not sure how Everfi was supposed to succeed.
They were SUPER HIGH on Everfi. Just another awesome decision from the ELT!!!
am new to BB, was everfi known to be a bad deal before it was even purchased?
Somehow the ELT will be richly rewarded with stock after buying (and burning) $750M. I’ve never felt worse about this place. It really did use to be a nice place to work. Anything to ensure top of the house makes their millions. Hoping I make it out before the ax falls on me.
It didn't even last 2 years.
https://finance.yahoo.com/news/blackbaud-blkb-buys-everfi-750m-215509567.html