Assets
PicsArt was founded in 2012 by Hovhannes Avoyan and has been developing video editing software since its market debut in 2018, when it bought EFEKT (formerly D'efekt). The use of the creative platform has PicsArt increased sharply since 2020, especially as influencers in social networks and e-commerce companies switched to video format.
History
2021: Purchase of a research company DeepCraft
December 2, 2021 PicsArt, a digital creativity platform sponsored by SoftBank and joined the ranks of unicorns in August 2021, announced the acquisition of the research company DeepCraft. The acquisition is a combination of cash and shares totaling about $7 million. The exact terms of the transaction were not announced. More details here.
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