Freelancer Ltd
(ASX: FLN) Share Price and News
Key Statistics
Introduction Freelancer (ASX:FLN)
Freelancer is the company behind Freelancer.com, Loadshift and Escrow.com. Freelancer.com is the world's largest freelancing and crowdsourcing marketplace, measured by total number of users and jobs posted. Escrow.com is a global online escrow service and much-needed payment solution for high-value transaction, catering to the evolving needs of businesses and guaranteeing secure and efficient transactions. And Loadshift is an online freight and heavy haulage marketplace.
Freelancer's Company History
The journey of Freelancer began in 2003 when Australian student Matt Barrie launched it as a simple project-connecting platform. It gained momentum and expanded rapidly, hitting 1 million users by 2010. Following its ASX listing in 2012, Freelancer grew through strategic acquisitions, particularly Escrow.com in 2015 and Loadshift in 2021.
Freelancer's Future Outlook
Freelancer's future is promising. The company recent reached profitability on a pre-tax basis of $0.2m, a turnaround of a $7m loss in the year before. It has made several enhancements to its platforms to take advantage of the AI boom.
The company has long-term relationships with its clients in the Enterprise division, including Deloitte and NASA. It stands out from its competitors as the largest platform of freelance labourers powered by AI. There is simply no comparison between it an Airtasker (ASX:ART), with the latter being a platform for manual jobs done face to face.
Is Freelancer a Good Stock to Buy?
Considering Freelancer as an investment requires a balanced view of its challenges and opportunities. The company's recent performance, marked by a significant share price decline and fluctuating revenues, raises caution.
The company's adaptability in a rapidly evolving tech landscape and its large global user base are positives. Investors should weigh these factors against the backdrop of competitive pressures and the company's ongoing efforts to streamline operations and enhance profitability.
Our Stock Analysis
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Frequently Asked Questions
Freelancer is renowned as the world's largest online freelancing and crowdsourcing marketplace. It connects millions of freelancers with businesses and individuals globally, offering a diverse range of services across various fields like software development, writing, and design.