Envato to Shut Down Envato Studio on Short Notice, Jilting Longtime Service Providers
Envato, the Australia-based digital assets company, announced it is shutting down Envato Studio, its community freelance platform, and Twenty20, a stock photo website. The company continues to tighten its belt and focus on newer products after it laid off 100 of its 700 employees, citing global conflicts and inflation. “We were spread too thin across all of these products we’d established,” Envato CEO Hichame Assi told told The Australian Financial Review. “They’re all creative products, but some are older with legacy platforms, whereas some are newer and going really well. We wanted to sharpen focus on our future products that are going really well.” The company’s most recent update indicated Envato is shifting to focus on Envato Market, Envato Elements, and Placeit, a tool for creating branding and marketing assets, while phasing out other products. This week the Envato community found out that these legacy platforms include Envato Studio and Twenty20. Many Envato Studio service providers, who have completed more than 230,000 jobs since it launched in 2014, were surprised to learn that Envato is giving them under two months notice before it shutters the service on August 21. Providers have built their profiles with positive reviews for their work on creative…
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