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Airtasker looks to escape ghost of Freelancer

There is $485 million worth of demand for Airtasker shares in a bookbuild offering just $83.7 million.

Tom Richardson
Tom RichardsonJournalist

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Airtasker’s founder says he’s built a self-sustaining business with strong gross margins and no need to spend more on direct marketing to grow, and whether it can deliver growth with less investment is going to be the real test for the next hot tech float.

Investors are compensated for the risks by a relatively moderate valuation for a business with a track record of growth in a buoyant tech sector and stag profits could add some icing on top for early Airtasker investors.

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Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com

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    Original URL: https://www.afr.com/markets/equity-markets/airtasker-looks-to-escape-ghost-of-freelancer-20210209-p570to