Freelancer.com has announced that they have filed for a $14.2 million initial public offering (IPO) on the Australian Securities Exchange. Freelancer.com is planning to raise $15 million Australian Dollars ($14.2 million U.S.). About 30 million new shares will be offered to the public at $0.50 AUD per share. Freelancer.com will be valued at $218 million AUD (around $206 million U.S.).
Freelancer.com will be using the funds raised in the IPO to fund their organic growth and acquisition opportunities. Freelancer.com disclosed that they are forecasting revenues at $18.3 million AUD (around $17.3 million U.S.) compared to $10.6 million AUD (around $10 million U.S.) in 2012.
Freelancer.com’s consolidated net profit after tax is forecast at $471,000 AUD, which is a 35% decrease from $728,000 AUD in 2012. The gross payment volume in 2013 is expected to hit $80.9 million AUS. About 5.1 million new shares will be available to eligible employees under the Freelancer.com new employee share plan. Freelancers that are active on the website can invest through the Freelancer Foundation Shareholder program.
Freelancer.com is the largest online marketplace for the freelancer market based on the number of users and projects. Freelancer.com has 9 million users and 4.9 million projects that are worth over $1.2 billion.
Freelancer.com was founded in 2009 and acquired GetAFreelancer.com shortly after. The company also acquired Scriptlance in Canada, LimeExchange in the U.S., EUFreelance in Europe, and RentaCoder/vWorker.
Freelancer received an offer of $400 million from Japan-based human resources website Recruit Co. Recruit acquired NuGrid in India and Indeed.com.