Google recently announced their decision to shut down Picnik. The technology from the company powers the Creative Kit feature of Google Plus.
Some of the former Picnik engineers have however already launched a new service named PicMonkey. The service is powered by Adobe Flash technology instead of HTML5.
PicMonkey is again an online image editor and is supposed to be faster than Picnik. Remains to be seen if it becomes as popular as Picnik once did!