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In 1989 the company Letraset introduced an image editing software called ColorStudio, developed by Tom Hedges and Mark Zimmer. This pioneering piece of software used 24-bit color, which was a large leap forward in terms of reproducing an image without artifacts, such as dithering, which was needed to reproduce color gradations and nuances in color. The software was targeted at professional users, yet was quite complicated to use. When Adobe released Photoshop in 1990, it quickly became a key competitor, even though its feature set was less robust. However, long term the increased ease-of-use of Photoshop and the improvements to Photoshop's features, along with the high price of ColorStudio contributed to the demise of ColorStudio.
References edit
https://www.paintboxtv.com/wp-content/uploads/2012/11/2011-05-The_Origins_of_Painter_by_Mark_Zimmer.pdf https://search.worldcat.org/de/title/colorstudio/oclc/21066427