Picsart

AI/consumer softwareUSA

New to Unitard

✂️ Markdown

Peak $1.5 BillionToday

~-55%

from peak

🦄
Became a unicorn
Aug 2021
📈
Peak valuation
$1.5 Billion ’21
💔
Became a Unitard
~2023
💸
Last valuation
~$675M

Current status

PitchBook est. $669M (Dec 2025)

The rise & fall

5 moments · 2011–2024

The key moments, with employee sentiment along the way.

2011

Founded in Yerevan

Hovhannes Avoyan starts a free photo-editing app that grows into a product with a large global user base.

TechCrunch

Aug 2021

The peak: SoftBank leads at ~$1.5B$1.5B

A SoftBank-led round crowns the photo- and video-editing app a unicorn — entry to the club and the peak in one stroke.

TechCrunch

2022–23

The private-market reset

Growth-stage valuations deflate; Picsart leans into AI features while the paper price sags.

CNBC

2023

Marked down out of the club

PitchBook's model, later reported by CNBC, puts the company at about $669M (end of 2025), roughly 55% below peak — under the $1B line.

CNBC

2022–24

From the inside · Glassdoor reviews, 2022–24

Glassdoor reviews from the markdown years described repeated layoff rounds — some of the laid-off later rehired — a strategy that pivoted every few months toward whatever AI trend was hot, and long-running gripes that a family-and-friends inner circle held the top jobs.

💬 entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗; dated facts carry their source.

How it happened

Picsart is a photo- and video-editing app that added AI features, reaching a ~$1.5B valuation after a 2021 funding round. As private tech valuations reset, third-party estimates (PitchBook) put the company at about $669M at the end of 2025, well below the unicorn threshold and roughly 55% under its reported peak. The app itself still serves a large global user base.

Source: PitchBook model estimate as of Dec 31, 2025 (CNBC's fallen-unicorn table, Jun 2026), not a priced round

Founder

Hovhannes Avoyan
founder & CEO
Still there — CEO and FounderLinkedIn ↗

Current roles as self-reported on LinkedIn, retrieved 2026-08-19. See our methodology.

Disclosed investors (12)

Historical funding participation; lists may be incomplete and do not establish current ownership or investor losses.

* Lead in a funding round · Crunchbase ↗ · 2026-10-13 · Methodology · Leaderboard