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October 27, 2021

Big Boost

Expert Arts Technicians

PicsArt Welcomes Craig Foster as First CFO

2 min read

SAN FRANCISCO–(Small business WIRE)–PicsArt, the world’s most significant inventive system, right now declared that marketplace veteran Craig Foster has joined the organization as its very first Chief Economical Officer. As CFO, Foster will guide all aspects of finance for the business. The transfer arrives as PicsArt continues its speed of superior development and global expansion. Worthwhile for many quarters, the business expects to near its existing fiscal 12 months with far more than $100M in ARR and millions of subscribers.

“Craig provides a robust observe file of scaling tech enterprises and having them general public-market ready,” said PicsArt founder and CEO Hovhannes Avoyan. “Performing closely with me and our stellar government workforce, Craig will help us push development and be certain that we’re building wise, knowledge-driven selections to optimize our possible as we move into the upcoming section.”

Foster has 25 yrs of administration practical experience in finance, operations and cash marketplaces, owning served as CFO of numerous general public and private technologies companies. Most not too long ago he was CFO of cloud providers enterprise Inseego (INSG), and at robotics firm Bright Devices. He was also CFO of Money Engines, a publicly traded program business where by he led the company’s $3 billion sale to Hellman & Friedman. Prior to his govt roles, Foster held many management positions at RBC Capital Markets, Deloitte Consulting and PricewaterhouseCoopers, the place he served software organizations increase funds by means of IPOs and pursue strategic combinations.

“I’ve very long admired PicsArt’s influence on the creator economic system, and I am dedicated to assisting the company construct on its momentum, allocate means for its best priorities, and aid its march in direction of staying a vital centerpiece of the increasing group,” claimed Mr. Foster. “PicsArt has a proficient administration crew, a one of a kind objective and remarkable possible. I glimpse forward to putting my background and competencies to get the job done to assistance the corporation achieve increased benefits for our personnel and shareholders.”

About PicsArt

PicsArt is the world’s #1 artistic platform and just one of the best 20 most downloaded applications of 2020. Each individual thirty day period, the PicsArt group produces, remixes and shares billions of visible stories applying the company’s powerful and effortless-to-use editing resources, articles and much more. PicsArt has amassed a person of the most significant open up-source content collections in the globe, which includes free-to-edit photographs, stickers, backgrounds, templates and more. PicsArt is readily available in 30 languages for free and as a membership on iOS, Android and Windows gadgets. PicsArt is backed by Sequoia Money, DCM Ventures, Perception Companions, and Siguler Guff & Business. Obtain the application or check out picsart.com or picsart.com/makes for much more details.

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