Design startup InVision, once valued at $2 billion, is shutting down at the end of this year, according to a company blog post Thursday. The business had raised more than $350 million from investors including Goldman Sachs and Spark Capital. From a report: Once a market leader in collaborative design software, InVision’s business spiraled after rival firm Figma’s product surged in popularity, snatching away its customers, The Information previously reported. InVision’s revenue fell by half to $50 million in 2022, pushing it to sell its core business line to Miro, a competitor building digital whiteboards last fall.
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