PicsArt Company’s PicsArt app, developed by Armenian programmers for photo edition, was announced as one of 50 Forbes Hottest Startups of 2015 in Silicon Valley.

The company is on the 5th place and was valued USD 250 mln by Forbes.

The 2015 Forbes Hottest Startups list uses data from private company research firm Pitchbook.

“Only private companies that raised new funding rounds in 2015, analyzed via regulatory filings, were included in the rating”, Forbes says.

According to the magazine, list captures the most in-demand startups “The ones for which investors had the highest hopes–and wrote the biggest checks”.

Combined, the top 50 hottest startups raised over $7 billion this year and have a total valuation close to $120 billion.

The leading startup in the ranking is Uptake Technologies that raised USD 1.5 bln, and Uber is the 16th with USD 16 bln value.

You can read about the complete list here.

PicsArt is a photo- editing mobile app that is developed for people that love art. PicsArt is “a mix” of Instagram and Photoshop. The company attracted USD10mln funding in February andUSD15mln more in June from Sequoia Capital venture capital firm.

You can read more about PicsArt here.