The unraveling of a unicorn: Why InVision failed
InVision was once a prominent player in the design software space. But the company that was once valued at $2 billion announced it will be discontinuing its design-collaboration services by the end of this year. The cofounders, Clark Valberg and Ben Nadel, originally designed the software as a prototyping tool for designers but it quickly gained popularity and ultimately achieved unicorn status after raising $100 million in 2017. This was followed by another milestone when it raised $115 million, which effectively doubled its valuation. So, what happened? How did this unicorn unravel? ‘Fast Company’ contributing writer Nicole Gull McElroy joined us to explain and discuss. Then we chatted with legendary English fashion designer Paul Smith who has been working in the industry for more than 50 years. Aside from the clothes, he’s also heavily involved in designing the look of his stores around the world. His iconic store on L.A’.s Melrose Avenue has a bright pink wall that’s been around since the early 2000s. But since the 2010s, that wall has become an Instagram hot spot with people lining up to take photos against the hot pink backdrop. Smith explained to us how the wall—which costs about $66,000 a year to maintain—has changed brand awareness, and spoke about his long career as designer-of-choice for such stars as Daniel Day-Lewis, David Bowie, and Jony Ive.