Click here to close now.




















Welcome!

News Feed Item

Freelancer Limited revenue accelerates to 77% year on year

SYDNEY, Feb. 27, 2014 /PRNewswire/ -- Freelancer Limited (ASX:FLN) today released financial results for the year ending 31 December 2013:

  • Revenue of $18.8 million, up 77%
  • Gross Payment Volume1 of $84.4 million, up 66%
  • Operating EBITDA2 of $1.2 million, up 53%
  • Operating Net Profit2 of $1.1 million, up 46%

Commenting on the result, Freelancer's CEO and Chairman Matt Barrie said, "Freelancer had a spectacular year in 2013 with revenue up 77% on the prior year. Over the last three years, we have had strong monotonic acceleration in both revenue and gross payment volume growth year on year, as well as continued improvement in take rate and gross margin- year on year."

"The result for FY13 has been driven by accelerated growth in our online marketplace, continued product development and site optimisation, and we are pleased to have exceeded our prospectus forecast. The Company has historically managed its operating cost base to be marginally profitable and cash flow positive with the aim of maximising re-investment in product development and top-line growth, and is pleased to have done so in FY13."

In January 2014 Freelancer.com hit a major milestone, passing through 10 million members making it the largest single marketplace of its kind based on the number of users. The company's rapid success has seen small businesses, startups and skilled professionals turn to the platform to connect, grow their businesses and get work done. Small businesses are investing more in online outsourcing with data showing around 4000 jobs being posted each day.

"We are at the very beginning of a global revolution in the way that we do work. Over the decades to come, the rest of the world's population will be connecting- at an accelerating pace. More and more industries will be eaten by software, and more and more jobs will be performed with a computer and will head into the cloud. People on opposite sides of the world will increasingly work together, and through software it will be as seamless as if they were in the same room together."

"We believe, that in time, it is inevitable that a global marketplace for services will emerge, that will be of a similar size and scale as global marketplaces for products like eBay, Amazon and Alibaba," he said.

"Freelancer is uniquely positioned to be this marketplace," he concluded.

Notes to the editor

Results overview3

31-Dec y/e

FY12

FY13

Growth Y/Y

Net Revenue

$10.6m

$18.8m

77%

Gross Payment Volume1 (unaudited)

$50.8m

$84.4m

66%

  Take rate4 (%)

20.9%

22.2%

6%

  Gross margin (%)

87.4%

87.6%

0.3%

Operating EBITDA2

$0.8m

$1.2m

53%

Operating EBIT2

$0.7m

$1.0m

46%

Operating NPAT2

$0.7m

$1.1m

46%

Cash balance as at 31-Dec

$9.7m

$24.4m

152%

New registered users (unaudited)

1.4m

2.9m

104%

About Freelancer®

Triple Webby award winning Freelancer.com is the largest freelancing and crowdsourcing marketplace in the world. Freelancer.com connects businesses with over 10.3 million independent professionals globally, specializing in nearly 600 fields. Over 5 million projects have been posted to date, in areas as diverse as website development, logo design, marketing, copywriting, astrophysics, aerospace engineering and manufacturing.

http://www.freelancer.com


1 Gross Payment Volume (GPV) is calculated as the total payments to Freelancer users for products and services transacted through the Freelancer website plus total Freelancer Revenue. Based on Freelancer's unaudited management accounts for the years ended 31 December 2010, 2011, 2012 and 2013.
2 Exclusive of expensed IPO costs of $275k (net of tax) and non-cash share based payments expense of $33k in FY13.
3 Unless otherwise indicated, the numbers contained in this release are derived from the audited Freelancer Annual Financial Statements for the 12 months ended 31 December 2013.
4 Take rate is calculated as Net Revenue divided by Gross Payment Volume.

SOURCE Freelancer

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
"We've just seen a huge influx of new partners coming into our ecosystem, and partners building unique offerings on top of our API set," explained Seth Bostock, Chief Executive Officer at IndependenceIT, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducte...
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
With SaaS use rampant across organizations, how can IT departments track company data and maintain security? More and more departments are commissioning their own solutions and bypassing IT. A cloud environment is amorphous and powerful, allowing you to set up solutions for all of your user needs: document sharing and collaboration, mobile access, e-mail, even industry-specific applications. In his session at 16th Cloud Expo, Shawn Mills, President and a founder of Green House Data, discussed h...
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness. In his session at 15th Cloud Expo, Michael Meiner, an Engineering Director at Oracle, Corporation, analyzed a range of cloud offerings (IaaS, PaaS, SaaS) and discussed the benefits/challenges of migrating to each offe...
Puppet Labs has announced the next major update to its flagship product: Puppet Enterprise 2015.2. This release includes new features providing DevOps teams with clarity, simplicity and additional management capabilities, including an all-new user interface, an interactive graph for visualizing infrastructure code, a new unified agent and broader infrastructure support.
Chuck Piluso presented a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Prior to Secure Infrastructure and Services, Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of International Te...
One of the hottest areas in cloud right now is DRaaS and related offerings. In his session at 16th Cloud Expo, Dale Levesque, Disaster Recovery Product Manager with Windstream's Cloud and Data Center Marketing team, will discuss the benefits of the cloud model, which far outweigh the traditional approach, and how enterprises need to ensure that their needs are properly being met.
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...
Learn how to solve the problem of keeping files in sync between multiple Docker containers. In his session at 16th Cloud Expo, Aaron Brongersma, Senior Infrastructure Engineer at Modulus, discussed using rsync, GlusterFS, EBS and Bit Torrent Sync. He broke down the tools that are needed to help create a seamless user experience. In the end, can we have an environment where we can easily move Docker containers, servers, and volumes without impacting our applications? He shared his results so yo...