Adobe Acquired Portfolio Service Behance For More Than $150 Million In Cash And Stock
Adobe announced yesterday that it had acquired New York-based company Behance. With 1 million members, the startup developed a LinkedIn for artists, allowing users to showcase their visual work. We just learned the financial terms from multiple sources. GigaOM first reported that it was north of $100 million. According to our sources, Adobe paid slightly more than $150 million in cash and stock, with certain growth goals to attain over multiple years.
The financial details confirm that Adobe is committed to Behance’s product and developing it further. The artist community will be integrated in the newly launched Creative Cloud service. Yet, Adobe senior marketing director Scott Morris told Frederic Lardinois yesterday that the company has no plan to retire the Behance brand or make any change to the product.
Behance allows artists to build and showcase a web portfolio without having to manage a website. It makes it easier…
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