Adobe Acquires Behance For $150 Million
Earlier this week Adobe acquired Behance, a New York based company where professionals can showcase their creative portfolios. Behance has around 1 million members and they host over 3 million projects.
Adobe will be integrating the Behance community and portfolio capabilities into the Creative Cloud service. All of Behance’s 32 employees will move over to Adobe and they will remain in New York. Behance CEO Scott Belsky will become the VP of community at Adobe.
Behance started in 2006 and they raised $6.5 million in Series A funding led by Union Square Ventures, Amazon CEO Jeff Bezos, Dave Morin, Yves Behar, Chris Dixon, Dave Tisch, Dave McClure, Alexis Ohanian, and Garrett Camp. Behance said that their users are adding around 20,000 new projects to the website every week. Their network doubled over the last month itself.
Behance hosts portfolio features for several thousand websites like AdWeek, the Rhode Island School of Design, and The Smithsonian National Design Awards.
How much did Adobe pay for Behance? It is believed that Adobe paid over $150 million in cash and stock.