Envato has passed $1 billion in community earnings after 14 years in business. The company reached the goal a year earlier than anticipated, thanks to the contributions of 81,000 different creators around the globe and millions of customers who have purchased products from Envato Market, Envato Studio, Envato Tuts+ and Envato Elements.
“To this day, we’re very proud that our community earns more money than our company does,” Envato co-founder Collis Ta’eed said. Last month Ta’eed stepped down from his position as CEO to pursue a new ethical chocolate e-commerce venture. He was replaced by former HotelsCombined.com CEO, Hichame Assi.
Due to the pandemic, the Australian tech company recently transitioned to all employees working from home during the global lockdown. Along with the announcement of Ta’eed’s exit, Envato delivered a 20% profit share payout, totaling $3.75m AUD, to its 630-person workforce. The company reported that this is an increase on the 10% allocation from the previous financial year.
“Profit share has become an integral part of Envato and helps connect the team with a share of the success they create through their efforts,” Ta’eed said.
During the past several years, the company has focused heavily on driving profits through Envato Elements, its subscription service. Ta’eed said the business is now “more subscription oriented than at any time in our history.”
One WordPress plugin author, who sells on Codecanyon, commented on the milestone post, urging Envato to renew its focus on the marketplaces.
“Please focus on the marketplaces as well,” FWDesign said. “In the past 2-3 years, you guys focused on Elements, cannibalizing the marketplace, is time to give us something back. Personally, I feel forgotten.”
While the community earnings have allowed creators to improve their lives in various ways – from paying family medical bills to buying apartments – the