In the recent past, we have seen a number of tech companies go public. Freelancer, the popular jobs marketplace online, has decided to join the fray. The company has now filed for a $14.2 million IPO, hoping to offer $0.50 AUD shares to the public.
Freelancer has been around for quite a while and has registered strong growth over the years. Employers use the site to look for potential people to hire whereas those seeking work look up relevant projects at the jobs marketplace. The site has become a cornerstone of the online outsourcing industry which is huge and includes other bigwigs such as Rent A Coder and oDesk.
In a bid to substantiate its $14.2 million IPO expectations, Freelancer has divulged its projected estimates for the 2013 annual revenue. According to the numbers released by the company, it is hoping to bag a revenue of $18.2 million during the ongoing year, whereas back in 2012 it scored a revenue of $10.6 million.
If the company gets the green signal from regulatory authorities, it intends to offer thirty million shares, each valued at $0.50 AUD. Given the fact that Freelancer has some 9 million users and currently hosts projects worth $1.2 billion AUD, is it expected that the public will show a keen interest in the company’s shares.
Moreover, the future prospects for Freelancer look very bright. The company has started from a small-time jobs marketplace and grown to a point where it connects millions of workers to millions of employers. In the coming years, online outsourcing is expected to grow exponentially and this, in turn, will bolster Freelancer’s revenues very significantly.