Freelancer shares jump

Freelancer CEO Matt Barrie. Image: Supplied.

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 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.

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