Tech unicorn Envato cools IPO talk after restructure
Rich Listers Collis and Cyan Ta’eed will appoint external independent directors after bringing on a new CEO, as they set the company up to thrive without them.
Kirstin Ferguson is the first director from outside the family to join the Envato board. Attila Csaszar
Rich Listers Collis and Cyan Ta’eed will revamp the board of Envato, their hugely successful online design marketplace, with the aim of beefing up its corporate credentials by appointing a majority of independent directors.
Envato is one of most successful players in a local industry, having grown dramatically since the company was established in 2006. But it has never officially joined the ranks of “unicorns” – private companies with a value of at least $1 billion – because it has never raised external capital and so its value has never been formally established.
Sally PattenBOSS editorSally Patten edits BOSS, and writes about workplace issues. She was the financial services editor and personal finance editor of the AFR, The Age and the Sydney Morning Herald. She edited business news for The Times of London. Connect with Sally on Twitter. Email Sally at spatten@afr.com
