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.
Hovhannes Avoyan, an Armenian entrepreneur, and Artavazd Mehrabyan and Mikayel Vardanyan, two Armenian programmers, launched Picsart in November 2011. The original Picsart app was created by its creators as a stand-alone tool to assist users in editing photos on their phones; over time, more features were added. November 2011 saw the release of the original PicsArt app for Android smartphones.The iPhone app Picsart for iOS was released in January 2013.it was made available for the iPad in May.The Picsart picture editor was made available on Windows Phone around the end of 2013.
Picsart started to work with Windows 8 devices in January 2014.
The company claimed to have 60 million monthly active users and 250 million downloads for its iOS and Android apps by April 2015.
2016 saw 75 million monthly active users on Picsart.
Remix Chat is a messaging app that Picsart introduced in 2017. It allows users to alter photographs with friends in groups or directly share them. Additionally, the business introduced a feature that allows its user base to freely design and distribute unique stickers. Additionally, Picsart declared that it had 90 million active monthly users.
To foster more social activity within the Picsart photo community, Russian supermodel and philanthropist Natalia Vodianova joined Picsart in July.After hitting 100 million monthly active users in October, the corporation started announcing collaborations with well-known celebrities and consumer goods.
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.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.
Picsart had 130 million active monthly users as of March 2019. Additionally in 2019, the business was listed as the #4 highest-grossing social photo and video editing app, behind YouTube, Instagram, and Snapchat, by app analytics firm Sensor Tower.
The business opened an artificial intelligence lab in January 2020 in collaboration with the American University of Armenia.The business announced that over 1 billion apps have been downloaded as of July.
With a corporate valuation approaching $1.5 billion, Picsart, the first software unicorn born in Armenia, revealed on August 26, 2021, that it had raised $130 million in Series C funding from Softbank, Sequoia, G Squared, Tribe Capital, Graph Ventures, and Siguler Guff & corporate
Picsart Academy, the company's education section, gained Code Republic, a learning platform, in February 2022.
The business also introduced Picsart for Developers, a new API program in February that enables partners to include Picsart features on their own platforms.
Picsart unveiled AI fonts, a fresh line of fonts made with generative AI, in March 2022.
In November 2022, Picsart itroduced two AI tools to its platform: an AI Writer and an AI Image Generator that use generative AI to create visuals and duplicate content.
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