TerriblyClever Design, the Stanford-based Web company that helped to design DukeMobile, has been bought out by Blackboard, Inc. for about $4 million, according to The Chronicle of Higher Education.
The sale makes millionaires of Kayvon Beykpour and Joe Bernstein, the two Stanford University students who founded the company in 2007.
Blackboard's chief business officer Matthew Small explained his company's decision to buy TerriblyClever in an interview with The Chronicle of Higher Education:
“Every single school is going to have an iPhone application,” said Mr. Small, in an interview. “For Blackboard, the question is, How do we bring teaching and learning to where students are, which is on mobile devices?”
The DukeMobile application, originally launched in March, can be used on the iPhone and iPod Touch. It includes a variety of features, and the application has been very popular on campus, said Michael Schoenfeld, vice president for public affairs and government relations.
Duke's foray into the world of mobile application began last Spring and was largely based off of iStanford, a set of iPhone applications introduced by Stanford University in January.
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