A comprehensive investigation of the electronic structure and fast relaxation processes in the excited states of new styryl base-type derivatives was performed using steady-state, pico-, and femtosecond time-resolved spectroscopic techniques. Linear photophysical parameters of new compounds, including steady-state absorption, fluorescence, and excitation anisotropy spectra, were obtained in a number of organic solvents at room temperature. A detailed analysis of the fluorescence lifetimes and ultrafast relaxation processes in the electronically excited state of the styryl bases revealed an important role of solvate dynamics and donor-acceptor strength of the molecular structures in the formation of their excited state absorption spectra. Experimental data were in good agreement with quantum chemical calculations at the time dependent density functional theory level, combined with a polarizable continuum model.