Airtasker – executive interview

Airtasker (ASX: ART) has developed and operates a community platform that connects people who need to outsource a wide range of tasks with local people who can provide them. The company was established in Australia, where it is the leading local marketplace in terms of jobs posted (currently 200k per month) and total value of services exchanged through the platform (A$250m per month), and is now growing its presence in the UK and US. The company recently announced that Channel 4 is taking a 20% stake in Airtasker’s UK subsidiary in exchange for A$6.5m of free advertising spend.

In this interview Airtasker’s founder and CEO, Tim Fung, discusses how the company’s open, local and infinitely horizontal model differentiates the offering from other B2C marketplaces such as Fiverr, Upwork or Rated People. He discusses the recently announced partnership with Channel 4 in the UK and how a similar partnership, with Seven West Media, was key to Airtasker gaining critical mass in Australia, as well as driving its growth strategy in the US. He explains the company’s unit economics, why he expects Airtasker to be cash flow positive in FY24 and what the company’s financial profile should look like as it gains critical mass in more geographies.