Envato has too much cash, so its staff will share its riches

A start-up often tipped as being one of the country’s next "unicorns", Envato, has more cash than it needs to keep growing, so it has decided to make the unusual move of sharing its profits with its staff. The bootstrapped online graphics marketplace was founded 11 years ago in the garage of Collis Ta’eed’s Bondi home with his wife Cyan, their long-time friend Jun Rung and two years later his brother Vahid Ta’eed. Since then it has emerged as one of the most profitable tech start-ups in the country.
In the 2016 financial year the company recorded $US29.4 million ($37.1 million) in net profit. While it is yet to file its 2017 numbers, it is expected that profits will be similar.
Envato chief executive Collis Ta’eed said he wasn’t aware of any other start-ups having profit shares with their staff, partly because many are not profitable.
"We’ve been profitable for pretty much as long as we’ve been around, and we’re bootstrapped, so last year at our 10-year anniversary we stopped and reflected and thought about what we’re doing and where it’s going and with us being profitable enough, we’d always wanted to reward the staff and people who contribute each year," he said.
Source: https://managewp.org/articles/15709/envato-has-too-much-cash-so-its-staff-will-share-its-riches

source https://williechiu40.wordpress.com/2017/07/25/envato-has-too-much-cash-so-its-staff-will-share-its-riches/