Today marks an exciting chapter in Envato’s journey as we proudly announce that we have entered into a definitive agreement to be acquired by Shutterstock—a respected leader in creative content (this agreement is subject to customary conditions and is expected to close in the third quarter of this calendar year). This acquisition will bring together shared values, a deep-rooted passion for creativity, and an unyielding commitment to shaping and empowering the global creative community. Looking forward, Envato co-founder Collis Ta’eed has expressed, “I’m excited and optimistic for Envato’s future as Hichame and the team enter this new chapter, and I am eager to witness how it continues to shape and empower the creative community worldwide." “I see this as an inflection point in our journey and am immensely proud of the work the team has done over the years to set us up for the future” says Hichame Assi, CEO. Together with Shutterstock, we remain steadfast in our commitment to listening to the needs of our creative community, fostering innovation and providing an environment where creativity thrives. We can’t wait to shape the future of creativity with you. https://enva.to/4hi
I believe that there is no reason to celebrate the acquisition of Envato. On the contrary, this is very bad news, especially for authors, and here’s why. I have been a content creator for Shutterstock since 2009. Over this time, I have observed how Shutterstock transformed from the best site for authors into a terrible mess. First, in its pursuit of rapidly growing its image database, Shutterstock lowered its quality standards, leading to a flood of primitive and low-quality works. Then, in 2020, Shutterstock introduced a completely humiliating payment structure for authors, starting with a few cents per image and resetting to the initial level every year. Fair outrage and requests from contributors were simply ignored. As a result, many content providers, including myself, refused to continue working with this platform. I hope I'm wrong, but I fear that after the acquisition, Shutterstock will gradually start applying its conditions and payment models to Envato authors.
Nick Hughes
4mo
Envato has long been one of my favourite Australian companies. Great culture, great people and first class tech innovator. Congrats on the acquisition, I hope Shutterstock recognises and preserves that which has made Envato special.
Lisa Macqueen
4mo
Congratulations - I agree with Nick Hughes - Envato are one of my favourite companies. Incredible people, incredible culture, a company that is full of people who actually care. Huge congrats to all involved and special shout out to Claire March who we have always loved working with. Shutterstock - good luck and best wishes with your new acquisition.
Nurlan Valiyev
4mo
I hope we don't see a decrease in Envato Elements writers' earnings. I have witnessed that Shutterstock has victimized many writers in the past.
Graphic Marts
4mo
Exciting news! Congratulations on the acquisition.
Two great creative products I use now into one. Huge congrats Envato!
logopiks
4mo
Fantastic update!
Patrick Abrar
4mo
Sharifur Rahman
4mo
Best of luck!
Zerince LTD ŞTİ şirketinde Chief Executive Officer
4moI see authors/sellers being phased out step by step, am I wrong?