Sector
10 Global Companies with Armenian Roots
The list of 10 companies with Armenian roots is an illustration of how business can be done in the Armenian way. All the companies listed below were open outside of the country, didn't limit their activity within the borders of one market weather it's Armenian, American or Russian one, but rather from the very beginning aimed for the global reach. With time 5 out of 10 companies have built an actual link with Armenia - opened an office in the country or hired an outsourced team.
Founders - Alexis Ohanian, Steve Huffman
1. Reddit
In 2005 Alexis Ohanian and Steve Huffman launched social news aggregation Reddit, a platform where any authorized user can share a post, link, video or photo. All the content is organized under the themed subreddits, the popularity of a post is determined by the users' votes. The company was growing fast, and in just a year, founders sold the company to the Conde Nast mass media company. In 2015 Ohanian came back to Reddit and remains as a boarding member.

Throughout the years Reddit got the investment funds from 23 investors including Sequoia Capital and Y Combinator with 550,1 million dollars as a total amount raised. Currently, Reddit is on the 18th place among the top 500 sites on the web according to the number of visitors. Around 1,4 billion people a month are visiting the website, most of the traffic is coming from North America. The estimated annual revenue of the company is 100 million dollars. Besides advertisement, the traditional source of revenue of the social media platforms, Reddit is making money on a Premium subscription that opens new features, its virtual coins, and presents.
Ohanian at the World Congress on Information Technologies 2019 in Yerevan, Armenia
Founders - Vahe Kuzoyan, Ara Mahdessian
2. ServiceTitan
Vahe Kuzoyan and Ara Mahdessian are children of ethnic Armenians who emigrated from Armenian and Iran. In the US fathers of both founders started building and plumbing business. As a response to the problems their fathers faced, Vahe and Ara created ServiceTitan, a software platform for the home service providers with a comprehensive suite of tools. The app includes tools for managing the schedule of the team, marketing automation, CRM, and much more.

The company got investments in a total of 326 million dollars. After the last investment round in 2018 ServiceTitan is valued at $1,65 billion. At the beginning of 2019, the company opened an office in Yerevan, Armenia, where currently works around 20 specialists. That makes ServiceTitan the first unicorn that not only has Armenian roots but also an office in Armenia.
Founder - David Yang
3. ABBYY
ABBYY is the oldest company on the list. It's a global leading solution provider in the sphere of AI-based document recognition, data capture, and language processing. The company develops products for content automation, document comparison, dictionaries and translation systems, developer tools for text and image capture. According to Owler, the annual revenue of the company is 100 million dollars.

ABBYY's founder David Yang was born and raised in Armenia, and before studying at the Moscow Institute of Physics and Technology, he graduated from the Yerevan Physics and Mathematics School. Yang is actively involved in the further development of the country. He is one of the biggest philanthropists, co-founder of the Ayb Educational Foundation and Ayb School. The goal of the foundation is to support the development of Armenian education.
Founders - Aram and Hovhannes Arakelyan
4. CityMobil
Citymobil is an on-demand taxi service founded in 2007 by brothers Aram and Hovhannes Arakelyan. 2018 was a landmark year for the company. Citymobil has reached the share of 24,5% on the Moscow market of taxi services, expanded its operations to the Moscow region and other major cities in Russia, received 26 million dollar investment from Mail.Ru Group, Megafon, and WSFIS Global Opportunities Fund. After the deal Aram Arakelyan's share in the company has become 49%, 12,13% directly belongs to Aram, the rest is secured through the fund representing his interests.

Since 2013 Citymobil has a small development team of around 20 specialists in Yerevan. In 2017 Citymobil supported the Armenian taxi service gg when the company was entering the Moscow market. Citymobil invested 50 thousand dollars.
Founders - Levon Hovhannisyan, Anna Shkirina, Daniil Shuleiko
5. Delivery Club
Delivery Club is a food delivery company founded in 2009 by Levon Hovhannisyan, Anna Shkirina, and Daniil Shuleiko. From 2009 till 2014 Armenian outsourcing company Helix had been developing the website and mobile apps of the service.

In 2014 Delivery Club was bought by Foodpanda, in just 2 years the service was sold once again. Mail.ru Group bought Delivery Club for $100 million. Mail.ru Group is a link between Delivery Club and Citymobil. The company provides different subscription packages that include both services, or using one service or the other a customer gets a discount or bonuses. Currently, Delivery Club is used by over 2 million people, quarterly revenue of the company is more than 1 billion rubles (≈ $15,560,000).
Founders - Armen Adjemian, Armen Petrosian, Drew Kucharian
6. Disqo
Disqo collects and analyzes behavioral and attitudinal client data, provides detailed reports on clients' activity on different platforms, provides ad measurement research. The company is applying Big Data solutions, at the same time curates control and test groups. In short terms, Disqo helps large scale companies to make smart decisions based on client information. The company is working with brands like Nike and Coca Cola, market research and analytics agencies.

Disqo was founded by Armen Adjemian, Armen Petrosian, and Drew Kucharian in 2016. In 2017 and 2018 the company went through 2 investment rounds and got investments in a total of $16,5 million. At the end of 2018, Disqo opened an office in Yerevan. Currently, around 30 professionals are working at the Yerevan office of the company.
Founders - Alexander Seropian, Jason Jones
7. Bungie
Bungie is a game development company founded in 1991 by Alex Seropian and Jason Jones. The company had launched several successful games, that drown attention to the company. In 2000 Microsoft bought Bungie for $20-40 million, both sides didn't disclose the exact sum. From now on, Microsoft had the rights for the Halo game, one of the most popular and downloaded games of the company. For a couple of years, Seropian was a General Manager of the Bungie Studio. The team was working on completing the production of Halo and launching the original Xbox. The company is still functioning, estimated annual revenue reaches $1,2 million.
Founders - Hrachik and Tatul Adjamyan
8. Wakie
Wakie is a mobile app for anonymous phone calls and messages working in 2 directions. First, any user can set a time and instead of a regular alarm he/she will get a call from one of the members of the community. The other option is to talk with people from all over the world, set a topic or reply to other user's questions. Members of the community can organize a call or continue communication via messages.

The company was founded by brothers Tatul and Hrachik Adjamyan in 2014 as a company-successor of the social alarm app Budist launched in 2011 in Russia. Wakie was a part of the Y Combinator acceleration program and got investments from Y Combinator, HIVE Ventures Fund and a number of other investors in a total amount of $3 million. The app has over 4 million downloads, the audience is spread all over the US, UK, Saudi Arabia, India, Thailand, and the rest of the world.
Founders - Gevorg Sarkisyan, Armen Gasparyan, Oleg Sambikin, Vasily Medvedev, George Chumburidze
9. Innova
Since 2006 Innova is working on the development and localization of online games. It was Innova that localized Lineage II, the game is played by over 30 million users, Korean games like Aion, Blade & Soul, Kingdom Under Fire 2. In 2008 the company launched 4Game service with a single point of access to the games. The service includes games, forum, store of the video game accessories, rating of top characters and gamers. 55 million people are registered on the platform, service is available in several languages and was launched on the international markets (CIS countries, Europe, Brazil).

For a long period of time, one of the founders Gevorg Sarkisyan was a General Director of the company. Currently, Alexander Arutyunyan is holding the position. Since 2011 a small team in Yerevan is working as a part of the company. Around 10 people are developing online games management and anti-cheating, anti-hacking systems.
Founder - Andrey Andreev
10. Badoo
Andrey Andreev (the real name is Andrey Ogandzhanyants) has launched several dating apps. First, in 2006, he launched Badoo that is now the biggest dating app used by 450,6 million users across the world. The annual revenue is estimated to be 300 million dollars.

In 2014 Andrey Andreev together with Whitney Wolfe launched a new app called Bumble. A distinctive feature of the app is that the first step is always made by women. In the middle of October 2019, Andreev sold his business MagicLab that combines all the apps to Blackstone for approximately $3 billion.
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