MBA Students Were at Picsart Armenia

3 min read

YEREVAN, Armenia — The American University of Armenia (AUA) Master of Business Administration (MBA) program maintains its commitment to bridge academia and industry by regularly organizing company visits. These visits are an integral part of the Program’s curriculum, aimed at immersing students in real-world business scenarios.

As part of the MBA program’s Start-up Management course taught by AUA adjunct lecturer Armen Avakian, this time, MBA students had the opportunity to visit Picsart Armenia, a thriving startup that has achieved immense success in the competitive industry of mobile photo editing and graphic design. 

The students were received by Picsart Armenia Communications & Corporate Affairs Senior Specialist Laura Hovakimyan and Senior Product Operations Manager Anna Gasparyan, who provided an in-depth presentation of the company, its product, features, and opportunities for creating interesting content.

The students discussed startup valuation methods and dived deep into the significance of data in making business decisions. While presenting Picsart’s strategic goals, company representatives emphasized the current challenges and economic volatility that are causing turbulence in maintaining regular business continuity.

Picsart Armenia was founded in 2012 by AUA alumnus Hovhannes Avoyan (MPSIA ‘95), a serial entrepreneur and investor with a deep interest in artificial intelligence and computer vision. The company’s flagship product, Picsart, is a mobile app that allows users to create and edit photos and videos with a wide range of filters, stickers, and other effects.

What sets Picsart apart from its competitors is its focus on community and collaboration. The app has over 1 billion downloads and 150 million monthly active users, who not only use the app for their personal photo editing needs but also share their creations with other users and participate in various contests organized by the company.

The visit to Picsart Armenia complemented MBA students’ experiential learning, enabling them to gain firsthand insights into the challenges and opportunities of startup management in a fast-paced, ever-evolving industry. One of the key takeaways from the visit was the importance of creating a strong company culture that fosters innovation, collaboration, and customer focus.

Laura and Anna emphasized the importance for leaders to communicate a clear vision and mission of the company to employees, empowering them to take ownership of their work and make meaningful contributions to the success of the organization. The students were able to observe the culture of Picsart projected by its employees, who demonstrated passion and commitment to their work.

Another significant takeaway from the visit was the importance of being agile and flexible in a constantly changing market. Picsart has remained ahead of the competition by continuously experimenting with new features and services, and closely following feedback from its users. The company has also been successful in expanding into new markets, such as India, where it has become the top-ranked photo editing app.

The visit to Picsart Armenia provided MBA students with an outstanding opportunity to learn from a successful startup and its leaders. The visit allowed students to see the practical implications of business concepts learned in the classroom, and how they would apply to a rapidly evolving industry. The experience at Picsart served as evidence that having a clear vision, strong culture, and work environment that encourages experimentation and learning, it is possible to reach ultimate success.

Founded in 1991, the American University of Armenia (AUA) is a private, independent university located in Yerevan, Armenia, affiliated with the University of California, and accredited by the WASC Senior College and University Commission in the United States. AUA provides local and international students with Western-style education through top-quality undergraduate, graduate, and certificate programs, promotes research and innovation, encourages civic engagement and community service, and fosters democratic values.