Sectorial Brochure IT Sector of Armenia/ BA | Page 11

SUCCESS STORIES / PICSART
The PicsArt mobile photo editing application, developed by Armenian experts in 2011,
was included in Forbes Magazine's 2015 Hottest Startup list, ranking 5 th in the standings.
The estimated value of the startup is $250 million. Google Play recognized the
application as one of 2015's best apps. It is an American brand, designed by the Silicon
Valley-based company Open Soft Consult, but the programming and marketing are
carried out in Yerevan. It is one of the most popular photo editing apps for Android and
the best-rated app on Google Play. With 500 million+ installs and 100 million monthly
users, PicsArt spans the globe and is available in over 30 languages. PicsArt employs
more than 350 people in Armenia.
SUCCESS STORIES / JOOMAG
DIGITAL PUBLISHING SOLUTIONS
Founded in 2009, Joomag is an all-in-one platform o ering a suite of integrated
solutions for interactive content creation and distribution for all marketing, digital
publishing, corporate communications and sales engagement needs. Headquartered in
San Jose, CA, the company delivers a unique, solution-based approach with its powerful
flagship Crater™ Editor. Over 500.000 leading businesses are already creating,
distributing, tracking and monetizing their online content from a central platform,
streamlining workflows and increasing their productivity in the process.
Artashes Vardanyan, Director of Microsoft Innovation Center, Armenia
“The huge success of several startups motivates innovative IT companies in Armenia to
think about establishing their own startups of globally scalable business models. The MIC
Startup Acceleration program could be one of the driving forces with other players like
acceleration programs and venture funds contributing to the local startup ecosystem.
This will lead to building the “Silicon Mountains” in the country.”
Nitzan Yudan, Co-founder and CEO of Benivo
When Nitzan Yudan is asked about the strengths of Armenia, he mentions human
capital: “Armenian engineers are hardworking, talented, flexible, business oriented and
committed”.
Yervant Zorian, President of Synopsys Armenia
“Founded in Armenia in 2005, the company is now rapidly expanding. Due to the success
of the projects, the innovativeness and creativity, Synopsys attracts more and more
projects to the country. Currently, several key products created in Armenia are used all
over the world. Furthermore, semi-conductor companies are using Synopsys products
made in Armenia. The workforce in Armenia is quite reliable.”
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