Picsart
Photo and video editing platform offering AI-powered creative tools, templates, and community features for digital content creation.
Company Type
private
Founded
2011
Headquarters
Miami Beach, Florida, USA
Revenue
not publicly disclosed (valued at over $1 billion)
Primary Market
Global
About Picsart
PicsArt provides a comprehensive photo and video editing platform with AI-powered creative tools and community features. The platform offers both consumer and enterprise solutions.
Key features include:
- Photo and video editing with templates and freeform editing
- Generative AI and automation tools
- Text-to-image generator and AI writing tools
- AI Avatars and SketchAI for artistic creation
- Community features including Remix Chat for collaboration
- Custom sticker creation and sharing
- API/SDK program for developers ("Picsart for Developers")
- Enterprise solutions for businesses
The platform operates on a freemium model, offering basic editing features for free while premium features require subscription. PicsArt's browser-based editor and mobile apps provide template-based and freeform editing for photos and videos.
The company has invested heavily in AI technology, partnering with Getty Images to ensure commercially safe AI image generation for business use.
History of Picsart
PicsArt was founded in November 2011 by Hovhannes Avoyan with engineers Artavazd Mehrabyan and Mikayel Vardanyan. The first app launched on Android later that year, with an iOS version released in January 2013 and iPad support added in mid-2013.
In 2014, PicsArt expanded to Windows platforms, including Windows Phone and Windows 8.1 PCs and tablets, demonstrating early cross-platform strategy.
The company's growth accelerated through strategic funding rounds. In 2015, PicsArt raised $10 million from Sequoia Capital and $15 million from Insight Venture Partners to expand its platform. April 2016 brought an additional $20 million specifically for growing its user base in Asia.
User growth milestones included reaching 100 million monthly active users by October 2017 and 130 million by March 2019, with strong adoption in Asian markets.
In 2019, PicsArt partnered with the American University of Armenia to establish a joint AI lab in Yerevan for research in machine learning and computer vision.
The company achieved unicorn status in August 2021 with a $130 million Series C round led by SoftBank Vision Fund 2, valuing the company at over $1 billion.
Recent innovations include launching "AI Avatars" in December 2022, standalone app SketchAI in January 2023, and Spaces community features in May 2023. In 2024, PicsArt partnered with Getty Images to build a custom generative AI model trained on licensed content for commercial use.
Brands Owned by Picsart
Picsart owns 0 brands in our database.
Picsart Ownership: Pros & Cons
Advantages
- +Large user base with 150 million monthly active users
- +Strong AI capabilities and innovation
- +Diverse revenue streams from subscriptions and enterprise
- +Strategic partnerships with major content providers
- +Global presence with strong Asian market adoption
Considerations
- -Competition from other editing platforms and AI tools
- -Need for continuous AI research and development
- -Dependence on mobile app store ecosystems
- -Challenges in monetizing free user base
- -Market saturation in photo editing app space
Frequently Asked Questions About Picsart
Is PicsArt a publicly traded company?
No, PicsArt is a privately held company. It achieved unicorn status in 2021 with a $1 billion+ valuation but has not undergone an initial public offering.
Who founded PicsArt?
PicsArt was founded in 2011 by Hovhannes Avoyan, Artavazd Mehrabyan, and Mikayel Vardanyan. Avoyan serves as CEO and leads the company's strategic direction.
How much funding has PicsArt raised?
PicsArt has raised $195 million in total funding across multiple rounds, including a $130 million Series C led by SoftBank Vision Fund 2 in 2021.
How many users does PicsArt have?
PicsArt serves approximately 150 million monthly active users globally, with strong adoption in Asian markets and growing presence worldwide.
What services does PicsArt offer?
PicsArt provides photo and video editing apps with AI-powered tools, templates, generative AI features, community collaboration, and developer APIs for integrating editing capabilities into other platforms.
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