-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 C8iWC9p8np30/ARdz1D1lvsco2E8aAP4D+yrjYkhtyxwK7CxCy4/I6huM5oxsDgH
 5hqMn36F1pGkx/VgW+1/fA==

<SEC-DOCUMENT>0001106942-09-000001.txt : 20090519
<SEC-HEADER>0001106942-09-000001.hdr.sgml : 20090519
<ACCEPTANCE-DATETIME>20090519122847
ACCESSION NUMBER:		0001106942-09-000001
CONFORMED SUBMISSION TYPE:	D
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
FILED AS OF DATE:		20090519
DATE AS OF CHANGE:		20090519
EFFECTIVENESS DATE:		20090519

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BLACKBOARD INC
		CENTRAL INDEX KEY:			0001106942
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				522081178
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-39285
		FILM NUMBER:		09838799

	BUSINESS ADDRESS:	
		STREET 1:		650 MASSACHUSETTS AVE NW
		STREET 2:		6TH FLR
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20001
		BUSINESS PHONE:		202-463-4860

	MAIL ADDRESS:	
		STREET 1:		650 MASSACHUSETTS AVE NW
		STREET 2:		6TH FLOOR
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20001
</SEC-HEADER>
<DOCUMENT>
<TYPE>D
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0301</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001106942</cik>
        <entityName>BLACKBOARD INC</entityName>
        <issuerAddress>
            <street1>650 Massachusetts Avenue, NW</street1>
            <street2>6th Floor</street2>
            <city>Washington</city>
            <stateOrCountry>DC</stateOrCountry>
            <zipCode>20001</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>(202) 463-4860</issuerPhoneNumber>
        <issuerPreviousNameList>
            <value>None</value>
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        <jurisdictionOfInc>DE</jurisdictionOfInc>
        <entityType>Corporation</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Michael</firstName>
                <middleName>L.</middleName>
                <lastName>Chasen</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Blackboard Inc.</street1>
                <street2>650 Massachusetts Avenue, NW, 6th Floor</street2>
                <city>Washington</city>
                <stateOrCountry>DC</stateOrCountry>
                <zipCode>20001</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Michael</firstName>
                <middleName>J.</middleName>
                <lastName>Beach</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Blackboard Inc.</street1>
                <street2>650 Massachusetts Avenue, NW, 6th Floor</street2>
                <city>Washington</city>
                <stateOrCountry>DC</stateOrCountry>
                <zipCode>20001</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Matthew</firstName>
                <middleName>H.</middleName>
                <lastName>Small</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Blackboard Inc.</street1>
                <street2>650 Massachusetts Avenue, NW, 6th Floor</street2>
                <city>Washington</city>
                <stateOrCountry>DC</stateOrCountry>
                <zipCode>20001</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Judy</firstName>
                <middleName></middleName>
                <lastName>Verses</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Blackboard Inc.</street1>
                <street2>650 Massachusetts Avenue, NW, 6th Floor</street2>
                <city>Washington</city>
                <stateOrCountry>DC</stateOrCountry>
                <zipCode>20001</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
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        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Jonathan</firstName>
                <middleName>R.</middleName>
                <lastName>Walsh</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Blackboard Inc.</street1>
                <street2>650 Massachusetts Avenue, NW, 6th Floor</street2>
                <city>Washington</city>
                <stateOrCountry>DC</stateOrCountry>
                <zipCode>20001</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>E. Rogers</firstName>
                <middleName></middleName>
                <lastName>Novak</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Novak Biddle Venture Partners</street1>
                <street2>7501 Wisconsin Ave, East Tower, Ste 1380</street2>
                <city>Bethesda</city>
                <stateOrCountry>MD</stateOrCountry>
                <zipCode>20814</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Lead Independent Director</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Joseph</firstName>
                <middleName>L.</middleName>
                <lastName>Cowan</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Blackboard Inc.</street1>
                <street2>650 Massachusetts Avenue, NW, 6th Floor</street2>
                <city>Washington</city>
                <stateOrCountry>DC</stateOrCountry>
                <zipCode>20001</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
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            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Frank</firstName>
                <middleName>R.</middleName>
                <lastName>Gatti</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Blackboard Inc.</street1>
                <street2>650 Massachusetts Avenue, NW, 6th Floor</street2>
                <city>Washington</city>
                <stateOrCountry>DC</stateOrCountry>
                <zipCode>20001</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Thomas</firstName>
                <middleName></middleName>
                <lastName>Kalinske</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Blackboard Inc.</street1>
                <street2>650 Massachusetts Avenue, NW, 6th Floor</street2>
                <city>Washington</city>
                <stateOrCountry>DC</stateOrCountry>
                <zipCode>20001</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Beth</firstName>
                <middleName></middleName>
                <lastName>Kaplin</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Blackboard Inc.</street1>
                <street2>650 Massachusetts Avenue, NW, 6th Floor</street2>
                <city>Washington</city>
                <stateOrCountry>DC</stateOrCountry>
                <zipCode>20001</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Matthew</firstName>
                <middleName>L.</middleName>
                <lastName>Pittinsky</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Blackboard Inc.</street1>
                <street2>650 Massachusetts Avenue, NW, 6th Floor</street2>
                <city>Washington</city>
                <stateOrCountry>DC</stateOrCountry>
                <zipCode>20001</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>William</firstName>
                <middleName></middleName>
                <lastName>Raduchel</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Blackboard Inc.</street1>
                <street2>650 Massachusetts Avenue, NW, 6th Floor</street2>
                <city>Washington</city>
                <stateOrCountry>DC</stateOrCountry>
                <zipCode>20001</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Other Technology</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>Over $100,000,000</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2009-05-08</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>true</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>0</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>14999515</totalOfferingAmount>
            <totalAmountSold>14999515</totalAmountSold>
            <totalRemaining>0</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>15</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>BLACKBOARD INC</issuerName>
                <signatureName>/s/ Matthew H. Small</signatureName>
                <nameOfSigner>Matthew H. Small</nameOfSigner>
                <signatureTitle>Chief Business Officer, Chief Legal Officer, and Secretary</signatureTitle>
                <signatureDate>2009-05-18</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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