Armenian IT startup, Wirestock, has received $2.3 million investments from Silicon Valley. Armenian company allows to sell media content online. The company first checks the quality of the content and then allows its sale. So you can combine pleasant and useful - fix the favorite options and sell them. The first group of tools works with content, making it available on as many commercial platforms as possible, providing the entire life cycle it needs, starting with the imprint of its content in Wirestock in the widest possible ways (web download, import from Dropbox, or GDrive, FTP, etc) before they are posted on almost all websites of stock agencies. This process also includes steps to complement the technical evaluation of content with meta-information on the header, categories, keywords, in which ML solutions are built. The other tools are designed to make the creator’s presence better. There is a sufficiently flexible portfolio manager, with the help of which the user has the opportunity to create a portfolio that best corresponds to his essence. There are also monetization tools that can be sold on the spot.

The team decided to use $2.3 million to expand the toolkit, further enhance machine learning, expand the user community, and more.

«From a business point of view, this year’s goal is a tenfold increase in our business», concludes Vladimir Khoezyan. Over the past 10 years, the IT sector in Armenia has shown unprecedented growth, recording an average annual growth of 23%. Over the past two years, more than 20 start-up companies in Armenia have together received 700 million dollars of investment. Armenian start-ups are exempt from taxes on business, and the income tax for employees is 10%. According to 2021 data, the total turnover of IT companies operating in Armenia exceeded 1 billion dollars. As of 2021, the industry employs 29,000 professionals.