Building and Scaling Behance: From Bootstrap to Adobe Acquisition

Grant generous equity early to align everyone as owners.

Behance paid below-market salaries but distributed meaningful equity; used LLC profit-sharing units before conversion to C-corp.

Why: Ownership mentality increases retention and resilience during the long “messy middle.”

"we were paying way below market wages, but we were distributing equity to our team… a team of owners"

Differentiate on depth and context, not ease of posting.

Dribbble optimized quick, pretty snapshots; Behance required full project context, leading to larger reach and professional credibility.

Why: Depth filters for quality and attracts serious hiring managers, creating stronger network effects.

"the real measure of a designer's portfolio is seeing the project in the context of the goal and the product"

Build what customers need even when they don’t know they need it.

Early focus group told Behance “the last thing we need is another creative site,” yet when asked about their real problems they listed outdated portfolios, lack of attribution, and unprofessional platforms.

Why: Customers articulate pains, not solutions; founders must translate pain into product vision.

"we realized, wow, this is one of those moments where our customers don't know what they need"

Anchor every feature to core principles or kill it.

Behance briefly copied Dribbble’s 400×400 snapshot sharing, launched it, then killed it because it violated the principle of truthful, contextual portfolio presentation.

Why: Competitive reactions that contradict core values splinter brand message and waste resources.

"we ended up killing it… imagine going through a year of building… then having to actually kill it"

Bootstrap until capital becomes a growth enabler, not a crutch.

Behance bootstrapped for five years via paper products, conferences, and ads; only raised when infrastructure and hiring needs outstripped cash flow.

Why: Early VC money forces premature scaling and loss of control; bootstrapping preserves optionality and culture.

"we just kind of liked having control over our own destiny"

Model dilution, not headline valuation.

Scott compared a $150 M acquisition against hypothetical $600 M future exit after two more rounds and concluded net proceeds to team were roughly equal.

Why: Each round typically dilutes founders 20-25 % plus option-pool expansion; later higher valuations can be offset by dilution and market risk.

"you realize that $150 million valuation or acquisition is maybe the same as a $600 million acquisition"

Cultivate long-term relationships with potential acquirers.

Behance had four years of informal updates and exploratory partnerships with Adobe before any deal discussion.

Why: Trust and mutual understanding accelerate diligence and increase likelihood of strategic (vs. purely financial) acquisition.

"it was always a relationship… sharing updates… ‘here’s the investor newsletter we sent out’"

Optimize for mission alignment and team placement, not just price.

Scott chose Adobe because Behance would sit “at the center of Creative Cloud,” not as a bolt-on, and Adobe’s culture valued creatives.

Why: Post-acquisition retention and product impact depend more on strategic fit than on incremental deal dollars.

"I felt like we had found a place where our team would be valued and placed at the center"