1. Photoshop was developed in 1988 by Thomas and John. Adobe later purchased the software and renamed it to Adobe Photoshop. 2. The latest version of Photoshop is CC 2017. Photoshop files are typically saved with the .PSD extension for Photoshop Document files. 3. Photoshop has tools for selections, retouching, and professional "Master" tools. It allows for layer creation and uses a white canvas with measurements typically in inches at 300 pixels/inch for print media like books and newspapers or optimized for web with widths of 800/600 pixels.