Airtasker is Australia’s leading online marketplace for local services, connecting people and businesses who need work done (Customers) with people and businesses who want to work (Taskers). Airtasker delivers a simple ecommerce experience for Customers to buy local services and creates flexible working opportunities and income for Taskers. Service industries currently facilitated by the Airtasker marketplace include everyday tasks such as handyman jobs, domestic cleaning and business administration, through to more complex work including architectural design, tax consultancy and legal advice, and many service industries in between.
The company was founded by Tim Fung along with a friend back in 2012. He has successfully led Airtasker and they now have over 950,000 customers and 150,000 taskers.
Airtasker has had a brilliant start to 2021 with the first 3 months of the year increasing the performance of all operating metrics. The start was such that the expectations coming out of the firm for the financial year 2021 is now projected to exceed the prospectus forecasts.
Airtasker listed on the ASX on Tuesday with a market capitalisation of $255.3 million after raising $83.7 million. A very successful debt saw shares climb from an offer price of 65 cents a share to $1.05 at market close. Airtasker ended their first day on the ASX with a market capitalisation of $412.5 million.
Airtasker is expected to further attract 410,000 unique paying customers this year and the average value of the tasks is also expected to rise from $159 to $185 – further increasing the operating efficiency of the firm.
Growth stocks are potentially one of the hardest to pick as there are a lot of factors that need to be considered – from industry tailwinds to the financial health of the individual stocks and a lot of little things in between them. Shares in the Value research team have picked their top 3 ASX stocks to buy in 2021. Click here to download the report for free.