Friday, March 24 2017 18:11

ArmInfo. On March 24, Armenian Prime Minister Karen Karapetyan visited the Armenian office of the Armenian company PicsArt, which is developing mobile applications.

As the press service of the executive body told ArmInfo, the prime minister got acquainted with the company's activities, as well as with development programs. The co-founder of the companies Artavazd Mehrabyan and the general director Miqael Vardanyan informed that over the past two years the number of PicsArt employees has increased by 2.5 times and today more than 350 employees work in the Yerevan office. The average age of the company's employees is 25.

Karen Karapetyan stressed that the government attaches great importance to the consistent development of the IT sphere. The prime minister expressed his readiness to discuss any proposal aimed at development goals.

An Armenian startup company founded by Hovhannes Avoyan and Artavazd Mehrabyan developed the graphic editor PicsArt in 2011. Success came to PicsArt in 2013, when a free application appeared for iOS and Android. Already in 2015, Forbes published the top 50 start-ups in 2015, which included the most attractive companies for investors. In fifth place, the American business magazine placed a mobile application of Armenian developers PicsArt, estimated it at $ 250 million. In 2015, PicsArt received an investment of $ 10 million from the American venture fund Sequoia Capital. Sequoia and famous for the fact that at one time, in 1978, he invested in Apple. Among other successful investments of the Fund - financing start-ups that later became big companies (Cisco, Google, Yahoo, PayPal, Youtube, LinkedIn, Dropbox, Airbnb, WhatsApp, Instagram).