Design Company Invision, Once Valued At $2 Bn, To Wind Up By 2024 End

(MENAFN- IANS) San Francisco, Jan 5 (IANS) Design company InVision, once valued at $2 billion, has announced to wind up operations by the end of 2024.

InVision is the visual collaboration platform powering the world's smartest companies, helping more than 7 million people across global enterprises and small teams transform the way they work together.

It had raised more than $350 million from investors including Goldman Sachs and Spark Capital.

Michael Shenkman, CEO, InVisionApp, said in a statement that after careful consideration,“we have made the difficult decision to discontinue InVision's design collaboration services (including prototypes, DSM, etc) at the end of 2024”.

“As you may know, our Freehand visual collaboration product was acquired by Miro earlier this fall. Miro has exciting plans for Freehand and will be communicating with Freehand customers directly moving forward,” he informed.

“We recognise the decision to end-of-life our design collaboration services will impact your creative process and workflows. We wanted to share our plans with ample notice so that you can plan accordingly”.

For the enterprise customers, the sales team will work with them directly to answer any questions they may have about this transition and direct them to alternative solutions, should they be required.

“For our self-serve (non-Enterprise) customers, you will be able to continue using InVision until the end of 2024. However, we have discontinued our annual subscription offerings. Instead, you will be able to use the services on one of our monthly subscription options,” the CEO informed.

--IANS

na/prw

MENAFN05012024000231011071ID1107687817