diff --git a/.isort.cfg b/.isort.cfg
index fc0db9b93d..263016922f 100644
--- a/.isort.cfg
+++ b/.isort.cfg
@@ -1,7 +1,7 @@
 [settings]
 src_paths = .
 multi_line_output = 3
-known_third_party = decorator, jinja2, stripe, tornado, zulip
+known_third_party = decorator, jinja2, markdown, stripe, tornado, zulip
 include_trailing_comma = True
 use_parentheses = True
 line_length = 100
diff --git a/docs/THIRDPARTY b/docs/THIRDPARTY
index af203235f1..b44ff3b525 100644
--- a/docs/THIRDPARTY
+++ b/docs/THIRDPARTY
@@ -117,7 +117,7 @@ Copyright: 2017 Fonticons, Inc.
 License: CC-BY-4.0
 Comment: This icon is picked from Version 5.13.0 of Fontawesome
 
-Files: zerver/lib/bugdown/fenced_code.py
+Files: zerver/lib/markdown/fenced_code.py
 Copyright: 2006-2008 Waylan Limberg
 License: BSD-3-Clause
 Comment: https://pypi.python.org/pypi/Markdown
diff --git a/docs/documentation/api.md b/docs/documentation/api.md
index 43045c061c..0d0c9f6bb2 100644
--- a/docs/documentation/api.md
+++ b/docs/documentation/api.md
@@ -170,7 +170,7 @@ We have a separate Markdown extension to document the parameters that
 an API endpoint supports.  You'll see this in files like
 `templates/zerver/api/render-message.md` via the following Markdown
 directive (implemented in
-`zerver/lib/bugdown/api_arguments_table_generator.py`):
+`zerver/lib/markdown/api_arguments_table_generator.py`):
 
 ```
 {generate_api_arguments_table|zulip.yaml|/messages/render:post}
diff --git a/docs/documentation/user.md b/docs/documentation/user.md
index e89247d398..9c4e990a0e 100644
--- a/docs/documentation/user.md
+++ b/docs/documentation/user.md
@@ -248,9 +248,9 @@ languages in API docs, etc.  To create a tab switcher, write:
 
 The tab identifiers (e.g. `desktop-web` above) and their mappings to
 the tabs' labels are declared in
-[zerver/lib/bugdown/tabbed_sections.py][tabbed-sections-code].
+[zerver/lib/markdown/tabbed_sections.py][tabbed-sections-code].
 
-[tabbed-sections-code]: https://github.com/zulip/zulip/blob/master/zerver/lib/bugdown/tabbed_sections.py#L37
+[tabbed-sections-code]: https://github.com/zulip/zulip/blob/master/zerver/lib/markdown/tabbed_sections.py#L37
 
 This widget can also be used just to create a nice box around a set of
 instructions
diff --git a/docs/overview/directory-structure.md b/docs/overview/directory-structure.md
index 7cf870004a..31989759e9 100644
--- a/docs/overview/directory-structure.md
+++ b/docs/overview/directory-structure.md
@@ -37,7 +37,7 @@ paths will be familiar to Django developers.
 
 * `zerver/worker/queue_processors.py` [Queue workers](../subsystems/queuing.md).
 
-* `zerver/lib/bugdown/` [Backend Markdown processor](../subsystems/markdown.md).
+* `zerver/lib/markdown/` [Backend Markdown processor](../subsystems/markdown.md).
 
 * `zproject/backends.py` [Authentication backends](https://docs.djangoproject.com/en/1.8/topics/auth/customizing/).
 
diff --git a/docs/subsystems/markdown.md b/docs/subsystems/markdown.md
index 08d92c3321..08873ccb29 100644
--- a/docs/subsystems/markdown.md
+++ b/docs/subsystems/markdown.md
@@ -5,7 +5,7 @@ after Zulip's original name of "humbug". End users are using Bugdown
 within the client, not original Markdown.
 
 Zulip has two implementations of Bugdown.  The backend implementation
-at `zerver/lib/bugdown/` is based on
+at `zerver/lib/markdown/` is based on
 [Python-Markdown](https://pypi.python.org/pypi/Markdown) and is used to
 authoritatively render messages to HTML (and implements
 slow/expensive/complex features like querying the Twitter API to
@@ -94,7 +94,7 @@ First, you will likely find these third-party resources helpful:
 When changing Zulip's markdown syntax, you need to update several
 places:
 
-* The backend markdown processor (`zerver/lib/bugdown/__init__.py`).
+* The backend markdown processor (`zerver/lib/markdown/__init__.py`).
 * The frontend markdown processor (`static/js/markdown.js` and sometimes
   `static/third/marked/lib/marked.js`), or `markdown.contains_backend_only_syntax` if
   your changes won't be supported in the frontend processor.
diff --git a/mypy.ini b/mypy.ini
index 4cedc08c21..c523d92ba2 100644
--- a/mypy.ini
+++ b/mypy.ini
@@ -110,7 +110,7 @@ strict_optional = False
 strict_optional = False
 [mypy-zerver.lib.outgoing_webhook]
 strict_optional = False
-[mypy-zerver.lib.bugdown]  # for __init__.py
+[mypy-zerver.lib.markdown]  # for __init__.py
 strict_optional = False
 [mypy-zerver.lib.push_notifications]
 strict_optional = False
diff --git a/tools/test-backend b/tools/test-backend
index 8c8fc3b157..3513243a99 100755
--- a/tools/test-backend
+++ b/tools/test-backend
@@ -62,7 +62,7 @@ not_yet_fully_covered = {path for target in [
     'analytics/views.py',
     # Major lib files should have 100% coverage
     'zerver/lib/addressee.py',
-    'zerver/lib/bugdown/__init__.py',
+    'zerver/lib/markdown/__init__.py',
     'zerver/lib/cache.py',
     'zerver/lib/cache_helpers.py',
     'zerver/lib/i18n.py',
@@ -71,10 +71,10 @@ not_yet_fully_covered = {path for target in [
     'zerver/lib/url_preview/preview.py',
     'zerver/worker/queue_processors.py',
     # Bugdown sub-libs should have full coverage too; a lot are really close
-    'zerver/lib/bugdown/api_arguments_table_generator.py',
-    'zerver/lib/bugdown/fenced_code.py',
-    'zerver/lib/bugdown/help_relative_links.py',
-    'zerver/lib/bugdown/nested_code_blocks.py',
+    'zerver/lib/markdown/api_arguments_table_generator.py',
+    'zerver/lib/markdown/fenced_code.py',
+    'zerver/lib/markdown/help_relative_links.py',
+    'zerver/lib/markdown/nested_code_blocks.py',
     # Other lib files that ideally would coverage, but aren't sorted
     'zerver/__init__.py',
     'zerver/filters.py',
diff --git a/zerver/lib/actions.py b/zerver/lib/actions.py
index 2fde7f3031..5da6079fe3 100644
--- a/zerver/lib/actions.py
+++ b/zerver/lib/actions.py
@@ -49,7 +49,7 @@ from confirmation.models import (
     generate_key,
 )
 from zerver.decorator import statsd_increment
-from zerver.lib import bugdown
+from zerver.lib import markdown as bugdown
 from zerver.lib import retention as retention
 from zerver.lib.addressee import Addressee
 from zerver.lib.alert_words import (
@@ -59,7 +59,6 @@ from zerver.lib.alert_words import (
 )
 from zerver.lib.avatar import avatar_url, avatar_url_from_dict
 from zerver.lib.bot_config import ConfigError, get_bot_config, get_bot_configs, set_bot_config
-from zerver.lib.bugdown import version as bugdown_version
 from zerver.lib.bulk_create import bulk_create_users
 from zerver.lib.cache import (
     bot_dict_fields,
@@ -97,6 +96,7 @@ from zerver.lib.export import get_realm_exports_serialized
 from zerver.lib.external_accounts import DEFAULT_EXTERNAL_ACCOUNTS
 from zerver.lib.hotspots import get_next_hotspots
 from zerver.lib.i18n import get_language_name
+from zerver.lib.markdown import version as bugdown_version
 from zerver.lib.message import (
     MessageDict,
     access_message,
diff --git a/zerver/lib/import_realm.py b/zerver/lib/import_realm.py
index 1f6fc1f978..65d21d1d81 100644
--- a/zerver/lib/import_realm.py
+++ b/zerver/lib/import_realm.py
@@ -15,7 +15,7 @@ from psycopg2.extras import execute_values
 from psycopg2.sql import SQL, Identifier
 
 from analytics.models import RealmCount, StreamCount, UserCount
-from zerver.lib import bugdown
+from zerver.lib import markdown as bugdown
 from zerver.lib.actions import (
     UserMessageLite,
     bulk_insert_ums,
@@ -23,9 +23,9 @@ from zerver.lib.actions import (
     do_change_plan_type,
 )
 from zerver.lib.avatar_hash import user_avatar_path_from_ids
-from zerver.lib.bugdown import version as bugdown_version
 from zerver.lib.bulk_create import bulk_create_users, bulk_set_users_or_streams_recipient_fields
 from zerver.lib.export import DATE_FIELDS, Field, Path, Record, TableData, TableName
+from zerver.lib.markdown import version as bugdown_version
 from zerver.lib.parallel import run_parallel
 from zerver.lib.server_initialization import create_internal_realm, server_initialized
 from zerver.lib.streams import render_stream_description
diff --git a/zerver/lib/bugdown/__init__.py b/zerver/lib/markdown/__init__.py
similarity index 99%
rename from zerver/lib/bugdown/__init__.py
rename to zerver/lib/markdown/__init__.py
index 9654abe851..1a4ade5779 100644
--- a/zerver/lib/bugdown/__init__.py
+++ b/zerver/lib/markdown/__init__.py
@@ -41,8 +41,6 @@ from markdown.extensions import codehilite, nl2br, sane_lists, tables
 from typing_extensions import TypedDict
 
 from zerver.lib import mention as mention
-from zerver.lib.bugdown import fenced_code
-from zerver.lib.bugdown.fenced_code import FENCE_RE
 from zerver.lib.cache import NotFoundInCache, cache_with_key
 from zerver.lib.camo import get_camo_url
 from zerver.lib.emoji import (
@@ -52,6 +50,8 @@ from zerver.lib.emoji import (
     translate_emoticons,
 )
 from zerver.lib.exceptions import BugdownRenderingException
+from zerver.lib.markdown import fenced_code
+from zerver.lib.markdown.fenced_code import FENCE_RE
 from zerver.lib.mention import extract_user_group, possible_mentions, possible_user_group_mentions
 from zerver.lib.tex import render_tex
 from zerver.lib.thumbnail import user_uploads_or_external
diff --git a/zerver/lib/bugdown/api_arguments_table_generator.py b/zerver/lib/markdown/api_arguments_table_generator.py
similarity index 100%
rename from zerver/lib/bugdown/api_arguments_table_generator.py
rename to zerver/lib/markdown/api_arguments_table_generator.py
diff --git a/zerver/lib/bugdown/api_return_values_table_generator.py b/zerver/lib/markdown/api_return_values_table_generator.py
similarity index 100%
rename from zerver/lib/bugdown/api_return_values_table_generator.py
rename to zerver/lib/markdown/api_return_values_table_generator.py
diff --git a/zerver/lib/bugdown/fenced_code.py b/zerver/lib/markdown/fenced_code.py
similarity index 100%
rename from zerver/lib/bugdown/fenced_code.py
rename to zerver/lib/markdown/fenced_code.py
diff --git a/zerver/lib/bugdown/help_emoticon_translations_table.py b/zerver/lib/markdown/help_emoticon_translations_table.py
similarity index 100%
rename from zerver/lib/bugdown/help_emoticon_translations_table.py
rename to zerver/lib/markdown/help_emoticon_translations_table.py
diff --git a/zerver/lib/bugdown/help_relative_links.py b/zerver/lib/markdown/help_relative_links.py
similarity index 100%
rename from zerver/lib/bugdown/help_relative_links.py
rename to zerver/lib/markdown/help_relative_links.py
diff --git a/zerver/lib/bugdown/help_settings_links.py b/zerver/lib/markdown/help_settings_links.py
similarity index 100%
rename from zerver/lib/bugdown/help_settings_links.py
rename to zerver/lib/markdown/help_settings_links.py
diff --git a/zerver/lib/bugdown/include.py b/zerver/lib/markdown/include.py
similarity index 100%
rename from zerver/lib/bugdown/include.py
rename to zerver/lib/markdown/include.py
diff --git a/zerver/lib/bugdown/nested_code_blocks.py b/zerver/lib/markdown/nested_code_blocks.py
similarity index 97%
rename from zerver/lib/bugdown/nested_code_blocks.py
rename to zerver/lib/markdown/nested_code_blocks.py
index 02f16dd05d..cbd4a502cd 100644
--- a/zerver/lib/bugdown/nested_code_blocks.py
+++ b/zerver/lib/markdown/nested_code_blocks.py
@@ -4,7 +4,7 @@ from xml.etree.ElementTree import Element, SubElement
 import markdown
 from markdown.extensions import Extension
 
-from zerver.lib.bugdown import ResultWithFamily, walk_tree_with_family
+from zerver.lib.markdown import ResultWithFamily, walk_tree_with_family
 
 
 class NestedCodeBlocksRenderer(Extension):
diff --git a/zerver/lib/bugdown/tabbed_sections.py b/zerver/lib/markdown/tabbed_sections.py
similarity index 100%
rename from zerver/lib/bugdown/tabbed_sections.py
rename to zerver/lib/markdown/tabbed_sections.py
diff --git a/zerver/lib/bugdown/testing_mocks.py b/zerver/lib/markdown/testing_mocks.py
similarity index 100%
rename from zerver/lib/bugdown/testing_mocks.py
rename to zerver/lib/markdown/testing_mocks.py
diff --git a/zerver/lib/bugdown/tlds-alpha-by-domain.txt b/zerver/lib/markdown/tlds-alpha-by-domain.txt
similarity index 100%
rename from zerver/lib/bugdown/tlds-alpha-by-domain.txt
rename to zerver/lib/markdown/tlds-alpha-by-domain.txt
diff --git a/zerver/lib/message.py b/zerver/lib/message.py
index c76caa751c..9706d53a97 100644
--- a/zerver/lib/message.py
+++ b/zerver/lib/message.py
@@ -13,7 +13,7 @@ from psycopg2.sql import SQL
 from typing_extensions import TypedDict
 
 from analytics.lib.counts import COUNT_STATS, RealmCount
-from zerver.lib import bugdown as bugdown
+from zerver.lib import markdown as bugdown
 from zerver.lib.avatar import get_avatar_field
 from zerver.lib.cache import (
     cache_with_key,
diff --git a/zerver/lib/realm_description.py b/zerver/lib/realm_description.py
index 409a4d3fbd..83bf29ebc4 100644
--- a/zerver/lib/realm_description.py
+++ b/zerver/lib/realm_description.py
@@ -1,10 +1,10 @@
-from zerver.lib.bugdown import convert as bugdown_convert
 from zerver.lib.cache import (
     cache_with_key,
     realm_rendered_description_cache_key,
     realm_text_description_cache_key,
 )
 from zerver.lib.html_to_text import html_to_text
+from zerver.lib.markdown import convert as bugdown_convert
 from zerver.models import Realm
 
 
diff --git a/zerver/lib/streams.py b/zerver/lib/streams.py
index f74d618ffd..9b9b8f0c9d 100644
--- a/zerver/lib/streams.py
+++ b/zerver/lib/streams.py
@@ -4,7 +4,7 @@ from django.conf import settings
 from django.db.models.query import QuerySet
 from django.utils.translation import ugettext as _
 
-from zerver.lib.bugdown import convert as bugdown_convert
+from zerver.lib.markdown import convert as bugdown_convert
 from zerver.lib.request import JsonableError
 from zerver.models import (
     DefaultStreamGroup,
diff --git a/zerver/lib/test_classes.py b/zerver/lib/test_classes.py
index 63b7d29436..a4265ddf1c 100644
--- a/zerver/lib/test_classes.py
+++ b/zerver/lib/test_classes.py
@@ -823,8 +823,8 @@ class ZulipTestCase(TestCase):
         '''
         with \
                 self.settings(ERROR_BOT=None), \
-                mock.patch('zerver.lib.bugdown.timeout', side_effect=KeyError('foo')), \
-                mock.patch('zerver.lib.bugdown.bugdown_logger'):
+                mock.patch('zerver.lib.markdown.timeout', side_effect=KeyError('foo')), \
+                mock.patch('zerver.lib.markdown.bugdown_logger'):
             yield
 
     def create_default_device(self, user_profile: UserProfile,
diff --git a/zerver/middleware.py b/zerver/middleware.py
index 2dd90c1fbc..9b90af5bf6 100644
--- a/zerver/middleware.py
+++ b/zerver/middleware.py
@@ -14,12 +14,12 @@ from django.utils.deprecation import MiddlewareMixin
 from django.utils.translation import ugettext as _
 from django.views.csrf import csrf_failure as html_csrf_failure
 
-from zerver.lib.bugdown import get_bugdown_requests, get_bugdown_time
 from zerver.lib.cache import get_remote_cache_requests, get_remote_cache_time
 from zerver.lib.db import reset_queries
 from zerver.lib.debug import maybe_tracemalloc_listen
 from zerver.lib.exceptions import ErrorCode, JsonableError, RateLimited
 from zerver.lib.html_to_text import get_content_description
+from zerver.lib.markdown import get_bugdown_requests, get_bugdown_time
 from zerver.lib.rate_limiter import RateLimitResult
 from zerver.lib.response import json_error, json_response_from_error
 from zerver.lib.subdomains import get_subdomain
diff --git a/zerver/templatetags/app_filters.py b/zerver/templatetags/app_filters.py
index 00bd47cf2b..88e179c051 100644
--- a/zerver/templatetags/app_filters.py
+++ b/zerver/templatetags/app_filters.py
@@ -9,15 +9,15 @@ from django.template import Library, engines
 from django.utils.safestring import mark_safe
 from jinja2.exceptions import TemplateNotFound
 
-import zerver.lib.bugdown.api_arguments_table_generator
-import zerver.lib.bugdown.api_return_values_table_generator
-import zerver.lib.bugdown.fenced_code
-import zerver.lib.bugdown.help_emoticon_translations_table
-import zerver.lib.bugdown.help_relative_links
-import zerver.lib.bugdown.help_settings_links
-import zerver.lib.bugdown.include
-import zerver.lib.bugdown.nested_code_blocks
-import zerver.lib.bugdown.tabbed_sections
+import zerver.lib.markdown.api_arguments_table_generator
+import zerver.lib.markdown.api_return_values_table_generator
+import zerver.lib.markdown.fenced_code
+import zerver.lib.markdown.help_emoticon_translations_table
+import zerver.lib.markdown.help_relative_links
+import zerver.lib.markdown.help_settings_links
+import zerver.lib.markdown.include
+import zerver.lib.markdown.nested_code_blocks
+import zerver.lib.markdown.tabbed_sections
 import zerver.openapi.markdown_extension
 from zerver.lib.cache import dict_to_items_tuple, ignore_unhashable_lru_cache, items_tuple_to_dict
 
@@ -85,9 +85,9 @@ def render_markdown_path(markdown_file_path: str,
     data."""
 
     # We set this global hackishly
-    from zerver.lib.bugdown.help_settings_links import set_relative_settings_links
+    from zerver.lib.markdown.help_settings_links import set_relative_settings_links
     set_relative_settings_links(bool(context.get('html_settings_links')))
-    from zerver.lib.bugdown.help_relative_links import set_relative_help_links
+    from zerver.lib.markdown.help_relative_links import set_relative_help_links
     set_relative_help_links(bool(context.get('html_settings_links')))
 
     global md_extensions
@@ -101,21 +101,21 @@ def render_markdown_path(markdown_file_path: str,
                 linenums=False,
                 guess_lang=False,
             ),
-            zerver.lib.bugdown.fenced_code.makeExtension(
+            zerver.lib.markdown.fenced_code.makeExtension(
                 run_content_validators=context.get('run_content_validators', False),
             ),
-            zerver.lib.bugdown.api_arguments_table_generator.makeExtension(
+            zerver.lib.markdown.api_arguments_table_generator.makeExtension(
                 base_path='templates/zerver/api/'),
-            zerver.lib.bugdown.api_return_values_table_generator.makeExtension(
+            zerver.lib.markdown.api_return_values_table_generator.makeExtension(
                 base_path='templates/zerver/api/'),
-            zerver.lib.bugdown.nested_code_blocks.makeExtension(),
-            zerver.lib.bugdown.tabbed_sections.makeExtension(),
-            zerver.lib.bugdown.help_settings_links.makeExtension(),
-            zerver.lib.bugdown.help_relative_links.makeExtension(),
-            zerver.lib.bugdown.help_emoticon_translations_table.makeExtension(),
+            zerver.lib.markdown.nested_code_blocks.makeExtension(),
+            zerver.lib.markdown.tabbed_sections.makeExtension(),
+            zerver.lib.markdown.help_settings_links.makeExtension(),
+            zerver.lib.markdown.help_relative_links.makeExtension(),
+            zerver.lib.markdown.help_emoticon_translations_table.makeExtension(),
         ]
     if md_macro_extension is None:
-        md_macro_extension = zerver.lib.bugdown.include.makeExtension(
+        md_macro_extension = zerver.lib.markdown.include.makeExtension(
             base_path='templates/zerver/help/include/')
     extensions = md_extensions
     if 'api_url' in context:
diff --git a/zerver/tests/test_bugdown.py b/zerver/tests/test_bugdown.py
index 1dbf6da417..7a7dfb2452 100644
--- a/zerver/tests/test_bugdown.py
+++ b/zerver/tests/test_bugdown.py
@@ -9,7 +9,8 @@ import ujson
 from django.conf import settings
 from django.test import TestCase, override_settings
 
-from zerver.lib import bugdown, mdiff
+from zerver.lib import markdown as bugdown
+from zerver.lib import mdiff
 from zerver.lib.actions import (
     do_add_alert_words,
     do_remove_realm_emoji,
@@ -657,14 +658,14 @@ class BugdownTest(ZulipTestCase):
     def test_inline_dropbox(self) -> None:
         msg = 'Look at how hilarious our old office was: https://www.dropbox.com/s/ymdijjcg67hv2ta/IMG_0923.JPG'
         image_info = {'image': 'https://photos-4.dropbox.com/t/2/AABIre1oReJgPYuc_53iv0IHq1vUzRaDg2rrCfTpiWMccQ/12/129/jpeg/1024x1024/2/_/0/4/IMG_0923.JPG/CIEBIAEgAiAHKAIoBw/ymdijjcg67hv2ta/AABz2uuED1ox3vpWWvMpBxu6a/IMG_0923.JPG', 'desc': 'Shared with Dropbox', 'title': 'IMG_0923.JPG'}
-        with mock.patch('zerver.lib.bugdown.fetch_open_graph_image', return_value=image_info):
+        with mock.patch('zerver.lib.markdown.fetch_open_graph_image', return_value=image_info):
             converted = bugdown_convert(msg)
 
         self.assertEqual(converted, '<p>Look at how hilarious our old office was: <a href="https://www.dropbox.com/s/ymdijjcg67hv2ta/IMG_0923.JPG">https://www.dropbox.com/s/ymdijjcg67hv2ta/IMG_0923.JPG</a></p>\n<div class="message_inline_image"><a href="https://www.dropbox.com/s/ymdijjcg67hv2ta/IMG_0923.JPG" title="IMG_0923.JPG"><img src="https://www.dropbox.com/s/ymdijjcg67hv2ta/IMG_0923.JPG?dl=1"></a></div>')
 
         msg = 'Look at my hilarious drawing folder: https://www.dropbox.com/sh/cm39k9e04z7fhim/AAAII5NK-9daee3FcF41anEua?dl='
         image_info = {'image': 'https://cf.dropboxstatic.com/static/images/icons128/folder_dropbox.png', 'desc': 'Shared with Dropbox', 'title': 'Saves'}
-        with mock.patch('zerver.lib.bugdown.fetch_open_graph_image', return_value=image_info):
+        with mock.patch('zerver.lib.markdown.fetch_open_graph_image', return_value=image_info):
             converted = bugdown_convert(msg)
 
         self.assertEqual(converted, '<p>Look at my hilarious drawing folder: <a href="https://www.dropbox.com/sh/cm39k9e04z7fhim/AAAII5NK-9daee3FcF41anEua?dl=">https://www.dropbox.com/sh/cm39k9e04z7fhim/AAAII5NK-9daee3FcF41anEua?dl=</a></p>\n<div class="message_inline_ref"><a href="https://www.dropbox.com/sh/cm39k9e04z7fhim/AAAII5NK-9daee3FcF41anEua?dl=" title="Saves"><img src="https://cf.dropboxstatic.com/static/images/icons128/folder_dropbox.png"></a><div><div class="message_inline_image_title">Saves</div><desc class="message_inline_image_desc"></desc></div></div>')
@@ -673,7 +674,7 @@ class BugdownTest(ZulipTestCase):
         # Test photo album previews
         msg = 'https://www.dropbox.com/sc/tditp9nitko60n5/03rEiZldy5'
         image_info = {'image': 'https://photos-6.dropbox.com/t/2/AAAlawaeD61TyNewO5vVi-DGf2ZeuayfyHFdNTNzpGq-QA/12/271544745/jpeg/1024x1024/2/_/0/5/baby-piglet.jpg/CKnjvYEBIAIgBygCKAc/tditp9nitko60n5/AADX03VAIrQlTl28CtujDcMla/0', 'desc': 'Shared with Dropbox', 'title': '1 photo'}
-        with mock.patch('zerver.lib.bugdown.fetch_open_graph_image', return_value=image_info):
+        with mock.patch('zerver.lib.markdown.fetch_open_graph_image', return_value=image_info):
             converted = bugdown_convert(msg)
 
         self.assertEqual(converted, '<p><a href="https://www.dropbox.com/sc/tditp9nitko60n5/03rEiZldy5">https://www.dropbox.com/sc/tditp9nitko60n5/03rEiZldy5</a></p>\n<div class="message_inline_image"><a href="https://www.dropbox.com/sc/tditp9nitko60n5/03rEiZldy5" title="1 photo"><img src="https://photos-6.dropbox.com/t/2/AAAlawaeD61TyNewO5vVi-DGf2ZeuayfyHFdNTNzpGq-QA/12/271544745/jpeg/1024x1024/2/_/0/5/baby-piglet.jpg/CKnjvYEBIAIgBygCKAc/tditp9nitko60n5/AADX03VAIrQlTl28CtujDcMla/0"></a></div>')
@@ -681,7 +682,7 @@ class BugdownTest(ZulipTestCase):
     def test_inline_dropbox_negative(self) -> None:
         # Make sure we're not overzealous in our conversion:
         msg = 'Look at the new dropbox logo: https://www.dropbox.com/static/images/home_logo.png'
-        with mock.patch('zerver.lib.bugdown.fetch_open_graph_image', return_value=None):
+        with mock.patch('zerver.lib.markdown.fetch_open_graph_image', return_value=None):
             converted = bugdown_convert(msg)
 
         self.assertEqual(converted, '<p>Look at the new dropbox logo: <a href="https://www.dropbox.com/static/images/home_logo.png">https://www.dropbox.com/static/images/home_logo.png</a></p>\n<div class="message_inline_image"><a href="https://www.dropbox.com/static/images/home_logo.png"><img data-src-fullsize="/thumbnail?url=https%3A%2F%2Fwww.dropbox.com%2Fstatic%2Fimages%2Fhome_logo.png&amp;size=full" src="/thumbnail?url=https%3A%2F%2Fwww.dropbox.com%2Fstatic%2Fimages%2Fhome_logo.png&amp;size=thumbnail"></a></div>')
@@ -689,7 +690,7 @@ class BugdownTest(ZulipTestCase):
     def test_inline_dropbox_bad(self) -> None:
         # Don't fail on bad dropbox links
         msg = "https://zulip-test.dropbox.com/photos/cl/ROmr9K1XYtmpneM"
-        with mock.patch('zerver.lib.bugdown.fetch_open_graph_image', return_value=None):
+        with mock.patch('zerver.lib.markdown.fetch_open_graph_image', return_value=None):
             converted = bugdown_convert(msg)
         self.assertEqual(converted, '<p><a href="https://zulip-test.dropbox.com/photos/cl/ROmr9K1XYtmpneM">https://zulip-test.dropbox.com/photos/cl/ROmr9K1XYtmpneM</a></p>')
 
@@ -2106,8 +2107,8 @@ class BugdownErrorTests(ZulipTestCase):
         throws an exception"""
         msg = 'mock rendered message\n' * MAX_MESSAGE_LENGTH
 
-        with mock.patch('zerver.lib.bugdown.timeout', return_value=msg), \
-                mock.patch('zerver.lib.bugdown.bugdown_logger'):
+        with mock.patch('zerver.lib.markdown.timeout', return_value=msg), \
+                mock.patch('zerver.lib.markdown.bugdown_logger'):
             with self.assertRaises(BugdownRenderingException):
                 bugdown_convert(msg)
 
diff --git a/zerver/tests/test_custom_profile_data.py b/zerver/tests/test_custom_profile_data.py
index 701703e00f..022a44db50 100644
--- a/zerver/tests/test_custom_profile_data.py
+++ b/zerver/tests/test_custom_profile_data.py
@@ -9,8 +9,8 @@ from zerver.lib.actions import (
     try_add_realm_custom_profile_field,
     try_reorder_realm_custom_profile_fields,
 )
-from zerver.lib.bugdown import convert as bugdown_convert
 from zerver.lib.external_accounts import DEFAULT_EXTERNAL_ACCOUNTS
+from zerver.lib.markdown import convert as bugdown_convert
 from zerver.lib.test_classes import ZulipTestCase
 from zerver.lib.test_helpers import queries_captured
 from zerver.models import (
diff --git a/zerver/tests/test_events.py b/zerver/tests/test_events.py
index 1178d21733..ff5079508f 100644
--- a/zerver/tests/test_events.py
+++ b/zerver/tests/test_events.py
@@ -98,13 +98,13 @@ from zerver.lib.actions import (
     remove_members_from_user_group,
     try_update_realm_custom_profile_field,
 )
-from zerver.lib.bugdown import MentionData
 from zerver.lib.events import (
     apply_events,
     fetch_initial_state_data,
     get_raw_user_data,
     post_process_state,
 )
+from zerver.lib.markdown import MentionData
 from zerver.lib.message import (
     MessageDict,
     UnreadMessagesResult,
diff --git a/zerver/tests/test_link_embed.py b/zerver/tests/test_link_embed.py
index 2dfaf0798e..72994c75cc 100644
--- a/zerver/tests/test_link_embed.py
+++ b/zerver/tests/test_link_embed.py
@@ -691,7 +691,7 @@ class PreviewTestCase(ZulipTestCase):
         mocked_response = mock.Mock(side_effect=self.create_mock_response(url))
         with self.settings(TEST_SUITE=False, CACHES=TEST_CACHES):
             with mock.patch('requests.get', mocked_response):
-                with mock.patch('zerver.lib.bugdown.link_preview.link_embed_data_from_cache',
+                with mock.patch('zerver.lib.markdown.link_preview.link_embed_data_from_cache',
                                 lambda *args, **kwargs: mocked_data):
                     FetchLinksEmbedData().consume(event)
 
diff --git a/zerver/tests/test_messages.py b/zerver/tests/test_messages.py
index 55d95dcec6..035bf477bc 100644
--- a/zerver/tests/test_messages.py
+++ b/zerver/tests/test_messages.py
@@ -16,7 +16,7 @@ from django.utils.timezone import now as timezone_now
 from analytics.lib.counts import COUNT_STATS
 from analytics.models import RealmCount
 from zerver.decorator import JsonableError
-from zerver.lib import bugdown
+from zerver.lib import markdown as bugdown
 from zerver.lib.actions import (
     check_message,
     check_send_stream_message,
diff --git a/zerver/views/message_edit.py b/zerver/views/message_edit.py
index 073fa68602..5e46ee02bb 100644
--- a/zerver/views/message_edit.py
+++ b/zerver/views/message_edit.py
@@ -8,7 +8,7 @@ from django.utils.timezone import now as timezone_now
 from django.utils.translation import ugettext as _
 
 from zerver.decorator import REQ, has_request_variables
-from zerver.lib import bugdown
+from zerver.lib import markdown as bugdown
 from zerver.lib.actions import (
     do_delete_messages,
     do_update_message,
diff --git a/zerver/views/report.py b/zerver/views/report.py
index 7fc43daf0b..4fc05cc0d0 100644
--- a/zerver/views/report.py
+++ b/zerver/views/report.py
@@ -9,7 +9,7 @@ from django.views.decorators.csrf import csrf_exempt
 from django.views.decorators.http import require_POST
 
 from zerver.decorator import human_users_only
-from zerver.lib.bugdown import privacy_clean_markdown
+from zerver.lib.markdown import privacy_clean_markdown
 from zerver.lib.queue import queue_json_publish
 from zerver.lib.request import REQ, has_request_variables
 from zerver.lib.response import json_success