ENVATO

GQ (Australia) - - GQ INC. -

ES­TI­MATED WORTH UN­KNOWN

Envato is an on­line mar­ket­place for cre­ators. It’s achieved rev­enue of $50m and is still com­pletely owned by its founders (mak­ing it dif­fi­cult to value.) It il­lus­trates how Aussie tech firms of­ten have to be prof­itable from the get-go. Co-founder Cyan Ta’eed (3) ex­plains that some busi­nesses, by na­ture, need to grow first and then make a profit later, but for most Aus­tralian tech start-ups, that was never an op­tion. Mel­bournebased Envato – set up in a garage in 2006 – has never taken any VC fund­ing, de­spite much in­ter­est and more of­fers. “When we started, we were so green that we did not re­alise what kind of fund­ing was out there. So we just tried to make it vi­able and prof­itable from day one. Ow­ing to a re­stricted ac­cess to cap­i­tal, many Aus­tralian start-ups sprint to­wards eco­nomic vi­a­bil­ity from in­cep­tion. That lack of fund­ing makes Aussie start-ups more ro­bust be­cause money isn’t around ev­ery cor­ner. You have to hus­tle and con­trib­ute some­thing ma­jor in or­der to get fund­ing.”

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