Company Rebranding of Envato
The internet is rife with sources for getting work done by professional coders, designers, animators and other freelancers – but for those looking to meet all their creative needs at once, you’ll definitely want to check out Envato. The company has been around for just over a decade, but has already made a major mark, generating millions of dollar in revenue for the parent company and its network of talented freelancers.
What do they do?
Envato is the parent company of three distinctive, but ultimately interrelated, products. First up is Envato Market, which offers 4.5 million digital products ranging from templates for WordPress to music and sound effects for a host of applications to royalty free stock imagery. With incredibly reasonable prices starting at $5 for stunning, pro-quality work, there are actually eight different categories of work (or mini-marketplaces) to search and browse through on the Envato Market.
Next is Envato Tuts+, which offers over 20,000 tutorials for a low monthly fee. It’s basically a shortcut to a DIY education on virtually any topic, from programming to photography to web design.
Finally, there’s Envato Studio, which recruits expert talent across categories like logo design or voice work. Unlike many other freelance networks, Envato Studio doesn’t have a bid process. Clients can peruse talent and connect directly with the freelancer, with upfront pricing.
As you can see, Envato’s ultimate goal is pretty straightforward: to function as a central creative hub for creators and clients alike.
What’s in a name?
Envato came to BrandBucket in 2008, looking for a new name. Originally called Eden, they were running into troubles trademarking the name, with a dozen companies blocking their trademark application in home country Australia alone! A common reason many go through a company rebranding.
Initial attempts to brainstorm other names came up short. The company instead looked for a made up name, something that could be easily trademarked but still evoke the spirit of what the organization stands for.
Eventually, they came to Envato. The name immediately gives off a polished, elegant vibe with the Latin-influence ending. But it’s those first three characters that really speak to the company’s purpose.
“At Envato, it’s all about bringing your dreams to life through their network of talented creatives. In other words, it’s about building out what you envision,” says Margot Bushnaq, CEO of BrandBucket. “The name Envato hints at the word envision, giving this created name a sense of creativity and imagination.”
One other benefit of picking a name with BrandBucket? As a solely bootstrapped company, Envato was looking for value. They nabbed Envato for just $1,000 and have since leveraged the brand to a multi-million dollar organization with global recognition.
The bigger picture
The application of Envato to all three products wasn’t immediate. Envato Studio, for example, was originally named Microlancer, a name chosen for small jobs, done fast. But as the company grew, they saw an opportunity to expand the freelance network’s purpose, based on client demand. Instead of seeking out a new name altogether, the company instead brought it under the parent company’s branding in 2014.
The same treatment was applied across the board. Tuts+ was original its own standalone brand, and the themed marketplaces on Envato Marketplace – with interrelated names like FlashDen and AudioJungle – used to all be their own sites.
Rebranding is never an easy process. In the case of Microlancer, the startup had only been around for a year before making the move to Envato Studio.
However, the Envato team remained committed to the shift. By aligning everything under the same name, Envato was able to leverage the goodwill created with one product across all of them – including future arms of the business. Not mention, their created name has also made it easy for them to capture SEO traffic, regardless of which of their services you’re looking to access.
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