Founders of PicsartTuesday, November 16, 2021
Picsart is a San Francisco, California and Yerevan, Armenia-based technology company that develops the Picsart suite of online photo and video editing applications, with a social creative community.
The platform allows users to take and edit pictures and videos, draw with layers, and share the images on Picsart's and other social networks. It is one of the world's most popular apps, with reportedly more than 1 billion downloads across 180 countries. The company was founded in 2011. The company was founded in 2011.
Picsart was founded in November 2011 by Armenian entrepreneur Hovhannes Avoyan, and Armenian programmers Artavazd Mehrabyan and Mikayel Vardanyan. Its founders developed the first Picsart application as a stand-alone tool to help people alter a photo image on their phone, and additional capabilities were added over time. The first PicsArt app launched in November 2011 on Android devices.
In January 2013, Picsart for iOS was released for the iPhone. In May, it was released for the iPad. In November, Picsart had reached 90 million installs and had nearly 25 million monthly active users. In late 2013, Picsart photo editor became available for Windows Phone.
In January 2014, Picsart became available on devices supporting Windows 8.
By April 2015, the company reportedly had seen 250 million downloads for its iOS and Android apps, and had 60 million monthly active users.
In 2016 Picsart reached 75 million monthly active users.
In 2017, Picsart launched Remix Chat, a messaging system where users can share images directly or in groups and edit them collectively with friends. The company also launched a feature to let its user community create and share custom stickers for free. Picsart also announced that it reached 90 million monthly active users. In July, Russian supermodel and philanthropist Natalia Vodianova joined Picsart to help increase social engagement and activism within the Picsart photo community. In October, the company reached 100 million monthly active users and began announcing partnerships with major consumer brands and celebrities.
In March 2019, Picsart reached 130 million monthly active users. Also in 2019, the company was ranked by app analytics company Sensor Tower as the #4 top grossing social photo and video editing app, after Instagram, Snapchat and YouTube.
In January 2020, the company launched an artificial intelligence lab in conjunction with the American University of Armenia. The facility employed faculty and students to conduct research in machine learning and computer vision. In July, Picsart acquired motion-based video effects company D'efekt, its first acquisition.Also in July, the company reported over 1 billion app downloads to date.
On August 26, 2021, Picsart CEO Avoyan announced that the company had raised $130 million in Series C funding from Softbank, Sequoia, G Squared, Tribe Capital, Graph Ventures and Siguler Guff & Company with a company valuation nearing $1.5 billion, making it the first tech unicorn born in Armenia.