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Freelancer smashes half year results, revenue surges 48%

Matt Barrie / Supplied

Freelancer posted a 48% rise in half year revenue to $38.6 million as the number of users and jobs at the global crowdsourcing marketplace kept growing.

The loss for the year was $1.6 million as the company invested in product and in hiring the best talent. Cash flow was a positive $1.5 million. And the company had $32 million in cash at the end of December.

In early trade, Freelancer shares jumped 11% to $1.51.

Founder and CEO Matt Barrie says Freelancer is a high growth internet company.

“Since listing it has continued to deliver exceptional growth in net revenues, driven by growth in marketplace volumes, increased efficiency and quality of the marketplace and increased sales of value added services,” he says.

“Freelancer’s growth is accelerating. The acquisition of Escrow.com is a strategic and operational inflection point for Freelancer. 2016 will be an exceptional year for Freelancer as we continue to grow the world’s largest freelancing and crowdsourcing platform alongside the leading provider of secure online payments and online transaction management for consumers and businesses on the internet.”

The company now has 440 staff, a rise of 13% on the year before, with employee expenses of $17.9 million, up 25%.

All time posted project and contest value passed $US3 billion in 2015.

Freelancer has 18.7 million users, with 4.4 million added in 2015, and in 2015 posted 8 million jobs, as this chart shows:

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