Monday, May 20

Tag: Image

Picsart Raises $130 Million at More Than $1 Billion Valuation
FUNDING

Picsart Raises $130 Million at More Than $1 Billion Valuation

SAN FRANCISCO, 1st Oct 2021-- Picsart, the world’s largest creative platform has raised $130 million in Series C funding. The round was led by SoftBank Vision Fund 2 with participation from new investors G Squared and Tribe Capital, as well as existing investors Sequoia, DCM, Graph Ventures, and Siguler Guf & Company. With over $100 million in annual revenue run rate, Picsart is now valued at over $1 billion. The company has raised a total of $195 million in capital since its founding. “Picsart is powering visual culture and breaking barriers between inspiration and creativity,” said Hovhannes Avoyan, Picsart’s founder and CEO. “We want to make the world more creative and have users in every country of the world designing, remixing, editing, and sharing on Picsart and beyond. This ...
Corbis Entertainment Owned by Bill Gates Sold to Visual China
ACQUISITION

Corbis Entertainment Owned by Bill Gates Sold to Visual China

Chinese image licensing company Visual China Group said it acquired on Friday the image division and content licensing unit of photo library Corbis Entertainment, owned by Microsoft Corp's co-founder Bill Gates. The company signed another deal with media service provider Getty Images to distribute Corbis' images and content to customers, thus bringing in a major photo library and an image distributor to China. Getty Images would distribute Corbis' content, creating a collection of over 200 million images and videos and certain archived historical contents for creative and editorial use. Following the sale of its image assets, Corbis will be rebranded and its other businesses will operate under a new brand name. As per the deal, Visual China's division, Unity Glory, will own and m...