Picsart, the world’s leading digital creation platform and a top 20 most downloaded app worldwide, announced that it has acquired the learning platform Code Republic for an undisclosed sum to join its educational division Picsart Academy. Picsart Academy provides world-class learning opportunities for the most qualified students in IT, including web development, AI, machine learning, data science, product management and more. Picsart has seen thousands of students go through its programs, and receives hundreds of applications each year, with many being hired by the company at the end of their courses. The acquisition of Code Republic will allow Picsart Academy to support additional programs and expand into more locations.
“Picsart was founded as the result of collaboration between a teacher and his students, so education and learning have always been at the heart of our DNA,” said Artavazd Mehrabyan, Co-founder and CTO at Picsart. “This acquisition allows us to scale Picsart Academy and take education to the next level with the help of the talented and passionate Code Republic team.”
As part of the acquisition, all 20+ Code Republic employees will join the Picsart Academy team. In fact, Code Republic’s Founder Vardan Grigoryan is a boomerang Picsart employee, having previously worked at the company as a Senior Engineer for more than two years. He’s also been teaching coding bootcamps regularly since 2012, where he developed expertise in spotting and developing talent. Grigoryan is rejoining Picsart as Director of Picsart Academy, leading the company’s educational efforts to attract new talent.
This is Picsart’s third acquisition, after the acquisition of Computer Vision and AI company DeepCraft late last year and advanced video effects company “D’efekt” in 2020. This news comes on the heels of Picsart announcing its first major brand marketing campaign last month. Picsart raised a Series C funding round of $130 million last year and is using part of the funds to acquire companies that mirror its values and growth strategy.
Source: Businesswire
