Techcrunch headline reads: "Adobe acquires marketing workflow startup for $1.5bn". IMO, Workfront (the acquired) is far from a startup. But hell... who ever let the truth get in the way of an eye catching headline?
Workfront was founded in 2001 making it 20 next year. Linkedin lists just over 1,000 employees online and Wikipedia estimates revenues of $230m in 2019. It has 3,000 customers and one million users. That's not a startup. Workfront is a mature and scaling company that will add much needed functionality to Adobe's Creative Cloud Suite.
So when is a startup no longer a startup? Answers welcome please.
Or does it even matter? I think it does. Headlines like Techcrunch's distort the picture by making deals like these look like luck. Nice fairy story, not reality.
Workfront has been making its own luck for 19 years. Calling the business a startup [to me at any rate] degrades the hard work, success and progress made by product people, engineers, marketers, sales and all the other departments needed to build scale.
Adobe just announced that it is acquiring marketing workflow management startup Workfront for $1.5 billion. Bloomberg first reported the sale earlier today. Workfront was founded back in 2001, making it a bit long in the tooth for a private company that has raised $375 million, according to Crunchbase.