Prompt Cast
Adobe's Acquisition of Behance: A Transformation from Box Software to Subscription Service
TLDR Adobe's acquisition of Behance in 2012 has led to significant growth and transformation for the company, including a shift from box software to a subscription service model, expansion through acquisitions, and integration of Behance into Adobe's Creative Cloud platform. Scott Belsky, the founder of Behance, discusses the initial vision of creating a global network for organizing and showcasing creative work, as well as the decision to join Adobe and continue working on the next generation of creative products.
Timestamped Summary
00:00
Adobe acquired Behance in 2012, and since then Adobe's market cap has grown to $130 billion, they have transitioned from a box software model to a subscription service, and have expanded their creative business through acquisitions.
05:24
Scott Belsky started Behance as a way to bring together his interests in business and design and to address the disorganization and lack of recognition in the creative industry, and he worked on Behance while attending Harvard Business School.
10:55
Behance was initially bootstrapped through various revenue streams, including selling action journals, hosting conferences, and offering consulting services, and the core vision was to create a global network for organizing and showcasing creative work, addressing the problems faced by creatives in terms of outdated portfolios, lack of attribution, and unprofessional platforms.
16:44
Behance aimed to address the lack of attribution in the creative industry and hoped that the internet would help bring more transparency and credit to the actual people who do the work, rather than just the companies or agencies that employ them.
22:09
Behance initially operated as a lifestyle business without any plans for an exit, but eventually decided to raise capital due to the growing network and the need to invest in infrastructure and hire more expensive talent.
27:26
Behance faced competition from other design platforms like dribble, but realized that the real measure of a designer's portfolio is seeing the project in the context of the goal and the product, leading them to make the decision to kill a snapshot sharing tool they had built in response to dribble.
32:29
Behance made the decision to kill a snapshot sharing tool they had built in response to dribble because it was not in line with their principles, and this turned out to be the right call as Behance now dwarfs Dribble in terms of reach and size.
38:03
Behance had ongoing conversations with Adobe over a four-year period, which eventually led to Adobe's decision to acquire Behance and integrate it into the Creative Cloud platform.
43:19
Behance's integration into Adobe's Creative Cloud platform has allowed for more frequent updates and features for customers, as well as a more predictable and investor-friendly business model, ultimately positioning Behance at the center of Adobe's product offerings.
48:25
Behance's integration into Adobe's Creative Cloud platform has allowed for more frequent updates and features for customers, as well as a more predictable and investor-friendly business model, ultimately positioning Behance at the center of Adobe's product offerings.
53:45
Scott Belsky discusses his experience as an angel investor and his decision to become a venture partner at Benchmark, ultimately realizing that he missed building and working with product teams, leading him to return to Adobe.
58:49
Scott Belsky returned to Adobe as Chief Product Officer to work on the next generation of creative products and help the teams get it right, while also continuing to work with Benchmark and complete his book project.
01:03:38
The transformation of Adobe from package software to subscription-based software and the impact of Behance on this transition is seen as a remarkable DNA shift within the company.
01:08:54
The host and guest discuss the importance of doing the right thing during an acquisition, exceeding expectations, and taking care of employees, investors, and stakeholders.
Categories:
Technology
Business
