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PicsArt to shunt out new version that uses artificial intelligence

PicsArt to shunt out new version that uses artificial intelligence

PanARMENIAN.Net - Mobile photo editor PicsArt is looking to expand, considering opening an office in the UK. Also, the startup is just about to present a new version of PicsArt that uses artificial intelligence, TechEye reports.

For CEO Hovhannes Avoyan, this is his fifth startup which was launched five years ago. The company has 200 people working in Armenia and 25 in San Francisco, its headquarters.

The firm got venture funding two years ago from the already famous Sequoia. Its engineers are based in its Yerevan, Armenia engineering hub.

The company is doing pretty well, said Avoyan, and isn’t looking to be taken over.

“We’re on a growth part. We’re not looking at acquisition,” he said. “We’re one of the largest in the social editing platform. Our biggest competitor is Instagram.”

It’s about to shunt out a new version of PicsArt that uses AI. Avoyan knows all about AI, he graduated in it way back, but the new AI is a different kettle of fish.

“AI has become very practical,” he said.

He has some strong views about the lack of backing of Armenia’s IT sector by the government. “We’d like to see more investment in universities,” he told us today. The company is considering opening an office in the UK.

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