Adobe Photoshop is practically synonymous with digital photography. It was created in 1988 by software engineers Thomas and John Knoll. The original software's name was based on version numbers. In October 2002, Adobe introduced its new Creative Suite brand and susequently new versions of Photoshop carried the initials "CS" plus a number.
Starting June 2013, Adobe again came out with a new brand, called the Creative Cloud. Photoshop's licensing arrangement was changed to a software rental model and the "CS" suffixes was renamed as "CC". Below is an interesting, condensed video of the history of Photoshop.