Freelancer (ASX: FLN)

Freelancer (ASX: FLN) An online freelancing, outsourcing and crowdsourcing marketplace

2009

FOUNDED

SMALL

SIZE

SOFTWARE

Industry

Product / Service

  • Freelancer connects ‘employers’ with ‘freelancers’ to work in areas such as graphic design, software development, mobile and Internet applications, marketing, data entry and other services that can easily be outsourced

  • Freelancer works by employers posting projects or contests.  Freelancers review the post and if the contest suits their skill set, they are able to submit a bid.  Employers can browse relevant freelancers and select from the submissions.  Employers award the project to a freelancer and pay when they are satisfied that the work has been completed

  • Freelancer earns revenue from both employers and freelancers in the form of a commission on the value of the project.  Freelancer also charges for premium services including highlighting projects, highlighting bids and other services to help employers or freelancer stand out

  • Freelancer labels its platform as the ‘Freelancer online economy;’ changing lives in the developing world by providing opportunity and income.  The majority of transactions involve an employer in a developed country outsourcing their task to a freelancer in a developing economy

  • Freelancer has launched Freelancer Local including pickup & delivery, photography & videography, moving, cleaning, garden maintenance

  • In April 2015, Freelancer acquired Escrow.com, a provider of secure online payments that collects, holds and disburses funds according to buyer and seller instructions

  • Freelancer acquires users through a variety of sources including search engine optimisation, search engine marketing, media and publicity, events, user referrals, competitions, email marketing and traditional advertising

History

  • Freelancer was founded in 2009 and listed on the ASX in November 2013

  • GetAFreelancer.com was rebranded in 2009 to Freelancer.com

Customers

  • Freelancer’s customers include both employers seeking resources to complete a task and freelancers with the skills to complete those tasks

Operations

  • The company is headquartered in Sydney

  • The company’s operations are around the world

To beneficially change one billion people’s lives on this planet by providing them with a job sourced through our platform

Profitability Table

Year Revenue ($m) % change EBT ($m) % change
CY 2012 10.6 - 0.7 -
CY 2013 18.8 76.5 0.6 P
CY 2014 26.1 39.0 -2.8 L
CY 2015 38.6 48.0 -3.7 L
CY 2016 52.7 36.5 -1.5 L

Fun Facts

  • Matt Barrie’s (CEO) total remuneration for CY 2016 was $634k

  • The NASA Lab Tournament and Freelancer have partnered to help crowdsource solutions to problems faced by astronauts

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