Yes, it's true. Adobe has created a spreadsheet program, of all things. It's an on-line application called Acrobat.com Tables, currently in early pre-release beta on Adobe Labs. It joins Adobe Buzzword and Acrobat.com Presentations, which I've written about previously. All three applications are intended to be collaboration tools, allowing multiple users to work simultaneously on the same spreadsheet, word processing file, or presentation. See this press release for more information about Adobe's direction with all of this. More background about the development of Tables can be found here.