PicsArt is a photo and video editor launched in 2011. The app offers a variety of editing instruments and a social platform to share the works and follow artists you like.
The app is available in 30 languages for iOS, Android and Windows platforms and was downloaded over 600 million times. In January 2019 the app was in second place in the international rating of the free apps in App Store.
PicsArt is a subscription-based app. The app itself is free, subscription opens additional instruments, exclusive educational materials, hides the ad. According to the Owler, the estimated annual revenue of PicsArt is around $30 million.
The main target audience of PicsArt is users up to 25 years old. At the beginning of 2019, PicsArt reached a milestone of 130 million monthly active users (MAU). Entering the Chinese market is one of the factors that triggered a quick jump. Currently, 15 million MAU are coming from China.
The company is backed by the top venture capital firms like Sequoia Capital, DCM Ventures, Insight Venture Partners, and Siguler Guff and Company. PicsArt attracted 1st investments in 2015. The total amount of funding is 45 million USD.
Overall the company employs around 400 people worldwide: Armenia, China, USA, Russia. The Headquarters is located in San-Francisco, but Yerevan office is the biggest one. Around 300 specialists, mostly engineers and designers, are working from Yerevan.