Shares in Matt Barrie’s Freelancer jumped this morning after the Australian labour exchange marketplace hit break-even operating cash flow for the third quarter.
A short time ago, they were up 4% to $0.51, adding to yesterday’s 10.1% rise.
The company announced cash receipts of $12.5 million, break-even operating cash flow in the third quarter and positive year to date cash flow of $1.4 million.
The Freelancer business Escrow.com had its second best quarter on record and strongest quarterly growth in five years for non-China volume. Escrow gross payment volume for the quarter was up 6% to $114 million.
Freelancer, billed as the world’s largest online freelancing and crowdsourcing platform, in August surpassed 25 million users.