UX Design Unicorn InVision Shuts Down Amidst Shifting Market Dynamics

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Image Source : www.invisionapp.com

In a surprising and a very significant move and turn off events Designs startup Invision which was once valued at $2 billion dollars has officially announced that it would be closing down its operations by end of this year 2024

This shocking revolutions is contrast to its previous position in the market .Invision was once a leader in collaborative designs software. INVISION in the past had raised $300 million dollars from leading investors in Silicon Valley like Goldman Sachs , SPARK capital etc but over the period of time INVISION struggle to maintain its leadership positions. It started facing steep competitions from new challengers like Figma which was almost 5 years late in operations . Invision was started in 2011 and it was seen as a Challenger to industries leader Adobe ,with Figma products gaining popularity post 2016 there was a significant shift in the customer base from INVISION to Figma INVISION revenue almost decreased by 50% that is from $100 million dollars to $50 million in 2022 .This reflects the hyper competitive market of design industry .Despite the earlier substantial investment and a valuation from 2 billion dollars INVISION find found itself in a very precarious situation like other startups lack of additional funding from venture capitalist in this funding winter .Invision product line was not very impressive for fresh lease of investments .Invision tale is a perfect example of a case in which if a company doesn’t develop unique products ,market fit product in real time it will be very hard to sustain in this hyper competitive market .

The existing invision customers have been advised to switch to alternative design tools Switching their current projects also and also for new projects all the datas documents boards etc will be deleted soon .It is a hard lesson learn by Invision of challenges faced by startups in rapidly evolving design Marketplace lack of adaptation and response to market changes will finally lead to stage of stagnation .

Some Industry expert have pointed out that Invision lost it focus from development to getting acquired by Industry leader like ADOBE

  • The UX design player, which was founded in 2011,
  • Raised over $350 million from investors including Goldman Sachs and Spark Capital.
  • Was valued at $2 Billion at its peak
  • Will close all account by 31 December 2024
  • Revenue $50 million in 2022

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