Business Ins & Outs: EverFi Sells for $750 Million, Salvation Army Residences?
By January 24, 2022 0 67•
Blackbaud, the world’s leading cloud software company powering social good, announced Jan. 3 that it “has acquired global social impact technology leader EverFi in a cash and stock transaction for approximately $750 million, subject to certain customary adjustments.”
Founded 12 years ago in Georgetown on Potomac Street and headquartered in Washington, D.C., EverFi “has pioneered the field of Impact-as-a-Service. Through a combination of cloud-based software and its unique community engagement ecosystem, EverFi enables private, public and social sector organizations to respond to some of today’s most pressing challenges through education, activating community engagement at scale, delivered as a service. Through its technology and learning platform, EverFi has reached more than 45 million learners globally…,” Blackbaud said in a statement.
“Blackbaud and EverFi have similar cultures and a strong sense of purpose,” said Tom Davidson, CEO, EverFi, who will join Blackbaud with his executive team. “Together we offer an unparalleled commitment to customers, innovation and data-driven social impact, making us the one distinctive leader in the social impact space. EverFi’s software powers some of the largest ESG and CSR initiatives in the world, and this alignment will drive impact for millions of learners every year.”
Two years ago, EverFi celebrated its new digs at 2300 N St. NW in the West End with friends, family and employees — along with Mayor Muriel Bowser, Kenan Thompson of “Saturday Night Live” and Georgetown and NBA star Jerome “Junk Yard Dog” Williams. Said EverFi co-founder and CEO Tom Davidson in 2019: “Ten years ago, EverFi was founded in a small D.C. row house with the idea that we could harness innovative, digital education to engage learners around some of the country’s most intractable issues, including financial illiteracy, student loan debt, sexual harassment and violence and workforce access.”
Salvation Army HQ to Become Residences?
Having put its headquarters building at 2626 Pennsylvania Ave. NW on the market a few years ago with no result, the Salvation Army looks to be ready ahead. Thanks to the office-to-residence conversion trend kicked off by the pandemic and a tight housing market, “the nonprofit is poised to let go of its longtime home after a few false starts,” reported the Washington Business Journal last week. “The Salvation Army is ready to say goodbye to its West End office. A residential conversion could be in its future.”
Soon: The Return of the Fountain Inn
A new tavern is set to open at 1659 Wisconsin Ave. NW in a month or two and has staked its reputation on fine spirits — as well as on the spirits of Washington history.
The new business tells us: “Originally established in 1783 by clockmaker John Suter, The Fountain Inn (a.k.a. Suter’s Tavern) was one of the most important taverns in American history.
“While the precise location of the original tavern is unknown, we do know this: Washington slept (t)here; Jefferson drank (t)here; D.C. was built (t)here.
“Now, a lot has changed in the last 235-plus years and yet, a lot has remained the same.
“Our vision for the 21st century Fountain Inn is to rekindle, restore but also rewrite its legacy, spirit and history in the form of a rare spirits tasting room that welcomes all through its doors.”
We await our back-to-the-future moment and a fine whiskey.
Out: Gap Officially Closed
Yes, over the weekend, the Gap closed for good. There is now a big empty space on Georgetown’s main avenue — and it comes as not quite a surprise. The Gap store at 1258 Wisconsin Ave. NW has been quietly looking to leave for a few years. The clothing retailer has been operating out of a huge historic building — Forrest Hall, built in 1851. An assembly hall, it was used during the Civil War for offices and a prison. Mark Twain spoke there. It was the site of many community meetings.
The building is 16,266 square feet divided over four levels — and being offered for lease. We hope you got something worth buying at 80 percent off.