Sequoia’s experience scaling tech startups like Instagram and WhatsApp was a major reason for selecting it as “partner,” he added. Kriegel said that the company was not short on offers when it came to raising, and that leverage gave it greater choice on how much it raised, and who from. “We believe that we’re an amplifier to what Instagram provides.” “Instagram is a social channel, we’re a creative platform and community,” Picsart’s US-based Chief Revenue Officer Wilson Kriegel told TechCrunch in an interview. Like Instagram, Picsart has its social network-like community, while users can also post to other services and view photos at . The app allows users to add text, stickers and make other tweaks beyond those that Facebook-owned Instagram offers. Picsart - which has been downloaded over 200 million times to date - differentiates itself from Instagram, which Sequoia invested in, and others by placing emphasis on its photo-editing features. This is the first outside investment that Picsart has taken, having bootstrapped itself to profitability after being founded in Armenia, an Eastern European country that isn’t exactly well-known for birthing tech startups. Picsart, a mobile photo editing app and community that claims 60 million monthly users, has closed $10 million in funding from Sequoia Capital.
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