Freelancer Ltd (ASX:FLN) Acquires Warrior Forum, the World's Largest Internet Marketing Marketplace and Community
(ABN Newswire Via Acquire Media NewsEdge)
Sydney, Australia, April 15, 2014 - (ABN Newswire) - Freelancer Limited (Freelancer or the Company) (ASX:FLN) today announced the acquisition of Warrior Forum, warriorforum.com. Warrior Forum will continue to be operated independently, and will be leveraged to enhance growth in Freelancer's core marketplace.
Founded in 1997, Warrior Forum is the pre-eminent marketplace and community for Internet marketing professionals globally. With over 732,000 registered users, the site is ranked by Alexa in the top 250 websites globally, and ranks in the top 150 websites in the United States and United Kingdom, and top 100 in Australia by traffic.
The Warrior Forum community comprises of the world's best Internet marketers, online entrepreneurs, growth hackers and technology specialists. Warrior Forum's user base includes Vice Presidents, Chief Marketing and Chief Growth Officers from some of the top Internet companies in the world.
Freelancer will continue to operate Warrior Forum independently, maintaining existing forum services for its online community which will continue to be community moderated. Freelancer will be providing a dedicated team and additional resources to make the marketplace and forums even better.
The acquisition provides a complementary community based platform for an important segment of Freelancer's current user base - all things Internet marketing and building online businesses.
The purchase price of the acquisition was US$3.2 million, representing an implied price to sales multiple of approximately 3x (based on normalised revenue run rate). The acquisition was funded by existing cash reserves of the Company. The website currently derives revenue from forum access fees, self-serve advertising and listing fees for marketplace items posted in the forum by registered users and the Company does not expect to incur any material increase in costs to operate the website.
Commenting on the acquisition, Freelancer CEO & Chairman Matt Barrie said, "Being the world's #1 Internet marketing forum, Warrior Forum provides the existing Freelancer community a complementary community based platform to interact and transact- enhancing user engagement in an important segment of work being performed in our online services marketplace."
To view a presentation regarding the acquisition, please visit:http://media.abnnewswire.net/media/en/docs/ASX-FLN-793010.pdf
About Freelancer Ltd:
Triple Webby award-winning Freelancer.com is the world's largest freelancing and crowdsourcing marketplace by total number of users and projects posted. Over 10.3 million registered users have posted 5.5 million projects and contests to date in over 600 areas as diverse as website development, logo design, marketing, copywriting, astrophysics, aerospace engineering and manufacturing. Freelancer Limited is listed on the Australian Securities Exchange under the ticker ASX:FLN.
CEO & Chairman
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