Freelancer reports 39% jump in revenue

Crowdsourcing marketplace added 4.6 million users in 2014

ASX-listed online skills marketplace Freelancer reported a 39 per cent increase in revenue for the 12 months ending 31 December.

The crowdsourcing company reported revenue of $26.1 million, up from $18.8 million for the previous corresponding period. Overall the company reported a net loss after tax of $1.5 million.

The company now has 14.3 million registered users for its crowdsourcing marketplace — a 47 per cent jump from the previous year.

Freelancer added 4.6 million users in 2014. Some 6.9 million projects were posted to the site.

The company's revenue growth reflects the fact that "Freelancer is a high growth Internet company," its annual report stated.

"In FY14 our focus was growth in project & contest volume, international growth in both countries and languages, growth in mobile usage and building out the Freelancer product set and features as well as user experience," Freelancer CEO and chairperson Matt Barrie said in a statement.

"We built better tools to communicate and collaborate, improved our internal algorithms including matchmaking. We improved the customer experience in multiple dimensions."

During the year the company also standardised on Scrum/Kanban for software development. The shift improved visibility of progress of its software projects and "resulted in a dramatic increase in the frequency and quality of software releases to our website and our mobile apps", the company's annual report stated.

The company launched an optimised mobile website and apps for Android and iOS during the year. Freelancer said there was a 250 per cent increase in monthly active users on mobile platforms in the second half of the year.

Read more: Freelancer picks up DoNanza assets

Freelancer also acquired the Warrior Forum marketing community, Polish freelance marketplace, content marketplace Fantero and startup conference SydStart.

Barrie said that in 2015 the company will look at further regional and multilingual expansion.

“We are continuing to focus on the product, user experience, scalability and expanding the features of the marketplace offering," Barrie said.

"We will also continue to focus on strengthening the team, and expanding the functionality and penetration of our platform across mobile devices, and will continue to expand across regional and multilingual markets, and across job categories.”

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Tags crowdsourcingFreelancer.comMatt BarrieFreelancer

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