• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Sunday, May 18, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

Picsart raises $130 billion in funding round led by SoftBank

by Manasi Varma
August 27, 2021
in Business, Popular, Videos
Reading Time: 2 mins read
0
Picsart $130 million SoftBank
TwitterWhatsappLinkedin

Photo and video editing platform Picsart, announced on Thursday that it has raised a sum $130 million in its Series C funding round, led by Japanese investment giant SoftBank Vision Fund 2, along with participation from new investors like Tribe Capital and G Square. Additionally, existing investors DCM, Sequoia, Graph Ventures, and Siguler Guf & Company, also participated in the fundraiser. This values the service, which has evolved into the largest creative community in the world, at roughly $1 billion. The company sees an annual revenue run rate of more than $100 million, and has raised sums worth a total of $915 million through financial rounds since its inception.

You might also like

BYJU’S CEO Byju Raveendran Announces New Vision: Focus on Classrooms, Not Courtrooms

The Best Memorial Day Tech Deals of 2025: Big Savings on Apple, Amazon, Dyson, and More

Xiaomi to Launch First High-End Self-Developed Mobile Chip as It Reenters the Silicon Race

Promoting Inspiration And Creativity

Founder and CEO Hovhannes Avoyan spoke on the fundraiser, saying that his company has been “powering visual culture,” while overcoming the barriers in place to block “inspiration and creativity.” He added that the goal of the team at Picsart is to provide the best tools for creating, editing, and sharing, with people across the world, and that the fresh capital will be used to “further strengthen” the firm’s position as the creative generation’s backbone.

Picsart is a very well known photo and video editing application, which is preferred by millions of people owing to its ease of use, and the availability of a number of important editing tools on the basic plan, without the need for going premium. Moreover, the different sets of features are available for absolute newbies, amateurs, and professionals alike, making the interface ever more cool. Availability on both, smartphones and computers, allows for quick editing on the go, and even for the more serious type of editing that takes time.

Picsart $130 million SoftBank
Image Credits: The Print

As per the data by PitchBook, the firm had previously gone for a fundraiser in 2019, when it had raised some $600 million.

Crossed The $1 Billion Valuation Mark

Just earlier this year, TechCrunch had reported that Picsart had crossed the $50 million ARR mark. The expectations of crossing the $100 million AR mark by the end of this year had been going strong back then, and on Thursday, the company revealed that it had indeed moved over the milestone, without disclosing any exact figures.

COO Tammy Nam has also spoken about Picsart’s growth in a recent talk with TechCrunch, saying that her firm has gone over the $100 million run rate, while also revealing that they now sit at a valuation of over $1 billion, thanks to the Series C round. This has turned Picsart into a so-called “unicorn.”

 

 

 

Tags: PicsartSequoiaSoftbank
Tweet54SendShare15
Previous Post

Amazon urges FCC to deny SpaceX’s plan for second-generation Starlink

Next Post

Cassava Sciences(SAVA) stock falls 14% after Quanterix denial of Alzheimer Test

Manasi Varma

A 20-something year old with a flair for writing, a love for reading, and an obsession for KPop. Most amicable person you'll ever meet.

Recommended For You

BYJU’S CEO Byju Raveendran Announces New Vision: Focus on Classrooms, Not Courtrooms

by Rounak Majumdar
May 18, 2025
0
BYJU’S CEO Byju Raveendran Announces New Vision: Focus on Classrooms, Not Courtrooms

With the announcement of BYJU'S 3.0, a revolutionary vision aimed at reestablishing the company's primary mission—empowering students in classrooms rather than getting involved in legal disputes—BYJU'S founder and...

Read more

The Best Memorial Day Tech Deals of 2025: Big Savings on Apple, Amazon, Dyson, and More

by Anochie Esther
May 18, 2025
0
Memorial Day

As Memorial Day approaches, many Americans prepare for backyard barbecues, summer getaways, and a well-earned long weekend. But beyond the grilled burgers and fireworks, Memorial Day has quietly...

Read more

Xiaomi to Launch First High-End Self-Developed Mobile Chip as It Reenters the Silicon Race

by Anochie Esther
May 18, 2025
0
Xiaomi

In a bold move that marks a new chapter in its technological evolution, Chinese electronics giant Xiaomi has announced plans to unveil its latest self-developed mobile processor, the...

Read more
Next Post
Artificial Intelligence

Cassava Sciences(SAVA) stock falls 14% after Quanterix denial of Alzheimer Test

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?