# ART - Airtasker Limited



## System (17 February 2021)

Launched in 2012, Airtasker is Australia's leading marketplace for local services, connecting people and businesses who need work done (Customers) with people or 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. It is free to join, and users can then engage with the Airtasker marketplace as a Customer or Tasker, with many people using Airtasker for both. More than 4.3 million registered users have joined Airtasker's marketplace to date.

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. In addition, a range of new service industries have emerged on Airtasker that may not otherwise exist without the Airtasker marketplace including, for example, flatpack furniture assembly, date night planning and spider removal services.

It is anticipated that ART will list on the ASX during March 2021.









						Hire skilled people & earn extra money today on Airtasker.com/us | Airtasker US
					

Access thousands of skilled people for your home & office tasks. From furniture assembly to data entry - hire a skilled Airtasker today.



					www.airtasker.com


----------



## Dona Ferentes (17 February 2021)

*Listing date*22 March 2021 #*Contact details*https://www.airtasker.com/*Principal Activities*Online marketplace*GICS industry group*TBA*Issue Price*$0.65*Issue Type*Ordinary Fully Paid Shares*Security code*ART*Capital to be Raised*$83,700,000*Expected offer close date*9 March 2021*Underwriter*Morgans Corporate Limited (Lead Manager)


----------



## Dona Ferentes (20 March 2021)

Airtasker cofounder and CEO Tim Fung is immensely proud of the fact his job services platform, which  started on the web in 2012, helped remove 2000 spiders last year at  about $35 a pop.


> _There's no way that you could have posted a job for spider removal pre Airtasker, _he says



He says there is no limit to the jobs that could exist on a marketplace platform such as Airtasker. Apart from spider removal, Fung says Airtasker's taskers have facilitated  these new services: flat pack furniture assembly, drone retrieval, date  night planning and Halloween costume making.

Airtasker lists on the stock exchange on Monday, raising $84M at $0.65 a share and which values the company  at $255 million. Investors have backed the stock, which is priced at nine times its forecast 2021  revenue, a relatively cheap valuation compared to other tech platforms.  Airtasker became cash flow positive in May last year.

Airtasker  chairman James Spenceley says the initial public offering was priced in  order to "_leave something on the table_". He says employees are true  believers in the story, having subscribed for 10 times the amount of  shares allocated to them.

Spenceley and Fung met in 2011 when it was a start-up in need of cash. Spenceley says Airtasker is the most exciting business he has been involved in notwithstanding his passion for Vocus, the telco he founded many years ago that is now being purchased by Macquarie Infrastructure and Real Assets.

Airtasker was founded by Fung  and Jonathan Lui after Fung borrowed a friend's chicken nuggets delivery  truck to move some furniture to a new apartment.


> _"That little weekend of work just made us think, why is it that we ask friends and  family to do all these kinds of jobs when there's so many people out  there under employed or unemployed?_" he says. _"We thought it was  just crazy that you couldn't call on someone in your local area and be  able to just work with that person in a trusted way. That was really the  genesis of starting Airtasker.
> 
> "We have seen the platform  evolve from simple jobs like moving boxes or maybe doing a little bit of light gardening or something all the way up to now you're seeing  architects, tax consultants and lawyers"_, Fung says. _"From the  tasker side of the equation, which is really where our mission stands,  it's really about creating jobs and income as the core purpose of what we do._






> _"I would differentiate ourselves from something like UBER  or Deliveroo, which are really focused on getting the job done as  cheaply as possible. .. And  so really, the manifestation of that is simply to promise the local  services. But at the heart of what Airtasker is doing is creating jobs  for people, and primarily that is in Australia right now, but we think  that is a problem that's solvable on a global basis."_



The company is expanding into the United Kingdom, Ireland, Singapore and New Zealand.

Airtasker  charges its taskers a service fee calculated as a percentage of the   task value agreed between the customer and the tasker. Those taskers who  complete higher value transactions are charged lower fees.


----------



## Dona Ferentes (22 March 2021)

Australian Securities Exchange chief executive officer Dominic  Stevens has had to make an embarrassing apology over another failure by  the market operator, which has briefly delayed Airtasker’s $255 million   float.  Blaming  “human error and oversight” for the failure, Mr Stevens was “profusely  apologetic about the situation” .

An  ASX spokesperson said the market operator “regrets the disruption and  has taken steps to address this as quickly as possible” and added that   Airtasker did everything it needed to and had satisfied ASX listing   rules.

The delay is because the ASX failed to notify “relevant   market participants”, including brokers and information vendors, of   Airtasker’s listing in time for market *launch that has now been  postponed to Tuesday.*


----------



## Dona Ferentes (23 March 2021)

good finish for IPO price of $0.65 a share

_today's price and volume action ... 3 min intervals_


----------



## Dona Ferentes (1 April 2021)

And a scenario seen too often ... late for the party, not a fun place to be

_Days 1 & 2 after IPO looking good, but where are the new buyers afterwards??_


----------



## over9k (1 April 2021)

And that's hype for you. It looks like a pump & dump. 

Deliveroo in the U.K was a total flop as well.


----------



## Dona Ferentes (2 April 2021)

over9k said:


> And that's hype for you. It looks like a pump & dump.
> 
> Deliveroo in the U.K was a total flop as well.



got to wait for the disappointing 1st Q, 1H numbers a la Nuix?


----------



## Dona Ferentes (5 July 2021)

Airtasker has upgraded its *gross marketplace volume guidance* to between $148 million to $152 million from $143.7 million. It said it has also maintained costs below prospectus forecasts, but declined to provide details.

It also warned current lockdowns means it expects a “softer start” to FY 22 but no impact to full year targets due to the strong marketplace performance and pattern of sharp recovery from prior lockdowns.

_*gross marketplace volume guidance .... *__gmvg for short but not for long?

holding at $1.15 to $1.20_


----------



## divs4ever (24 July 2021)

this was 'an accidental trade ' for me 

 i read some of the pre-float info , put a bid in for $1.40  when the market opened  i got hit at $1.01  and was pretty  content UNTIL the announcement  about the US acquisition  , thought about it  briefly and worried this was going to expand too fast too slow  , when trading recommenced the share-price spiked  i hit the exit button  at $1.25 

a resonable profit for 2 months wait  , ..... and THAT is how i trade .. not even the slightest hint of a plan  LOL


----------



## frugal.rock (23 April 2022)

Probably worth watching for a turnaround at some stage?


----------



## divs4ever (23 April 2022)

48 cents  , eh ??

that rapid expansion  plan  still has me concerned  ( i prefer recent floats  , to consolidate , and gets some revenue  in the war-chest )

might still be a goer if the economy collapses ( will be lots of folk trying for any work they can)

 will probably just glance at it from time to time  , probably until late 2023  and then reassess 

 ( of course IF the global economy implodes before 2024  , this is liable to start looking more attractive  , as a future recovery/growth stock ,)


----------



## Dona Ferentes (24 April 2022)

frugal.rock said:


> Probably worth watching for a turnaround at some stage?



Neighbours had some clunky furniture they needed transporting to their place. They looked at rental vehicles, and were thinking of GoGet, doing it themselves. Then on Airtasker they found they could could get a ute, with two blokes who would pick up, deliver and carry up 3 flights of stairs, for the same price. Pretty easy to see who got the business.

Of course, anything that can be measured can be priced, and they got the good deal on a mid-week, when it fitted into a schedule. Weekend rates are higher. As they are for Uber and other 'new economy' business models that adjust charges based on demand.

I think the issues with ART are competition (lots of similar service offerings) and sheer frequency of use by customers. And the need to stay relevant, to capture the eyeball and the click to engage.


----------



## frugal.rock (26 April 2022)

Quarterly out today.
I guess it was ok?
Finally ditched the very old phone. 
Charts may look a little different moving forward.


----------



## divs4ever (27 April 2022)

frugal.rock said:


> Quarterly out today.
> I guess it was ok?
> Finally ditched the very old phone.
> Charts may look a little different moving forward.
> ...



 the aftermath ( when ever it finishes ) of the virus restrictions  will be key here 

 lots of UNDER-employed folk  , lots of paperwork on hiring new staff  for permanent ( and permanent-casual ) jobs

 this has found a niche .. but how big and for how long  ( especially if shopping centres  and their notice-boards  become ghost-towns )

 watch that ambition to expand ( that made me nervous enough to sell out )

 time will  tell if that is great or terrible


----------



## Dona Ferentes (4 May 2022)

ART in a Trading Halt ... a cap raising on the way?



> _Airtasker is looking to acquire the No.3 tasks outsourcing player Oneflare; it is understood Airtasker has signed a deal to acquire Oneflare for $9.8 million, in a deal to be funded with a $6.25 million equity raising_




EDIT: _appears the raising is structured as a placement at 43¢ a share_


----------



## Dona Ferentes (28 July 2022)

c_oming from a long way down, ART moved up 33% today. However that was from somewhere plumbing the depths. 28c to 38c
_
Is there a good reason? Quarterly out, and the company pulled forward the company’s investor update from the full-year results to the fourth quarter.

What do we see? FY23 outlook: Airtasker well positioned to beneﬁt in an inﬂationary macro environment (their claim)

*Potential macro factors driving Airtasker demand:*
● Flexible labour represents a lower cost alternative compared to traditional labour sources  => Increased marketplace demand
● Lower consumer conﬁdence and less overall demand for services => 70% of Airtasker jobs are essential (non-discretionary) services

_*Potential macro factors driving Airtasker supply*_
● Less economic growth and jobs created => Increased availability of workers
● Increased cost of living => Incentives to seek more income
● Reversal of immigration barriers and Covid-related absenteeism => Increased worker availability

Strong balance sheet with $31.8m in cash and equity receivables, strong gross margins and low cost to operate


----------



## divs4ever (28 July 2022)

happy to watch and learn from the sidelines  , here 

i made a useful profit  in the first two months of trading ( for ART )

 looks like a stock for the real traders among us   ( and i ain't one of them )


----------



## PetEarwig (31 August 2022)

I'm picking ART for the September comp. I recently have started using Airtasker and have been impressed with the volume of tasks and the response times to fullfill the jobs. They take a decent cut of each job completed too. They also just released the years results which showed revenue increasing but still a loss of 20mil. They have expanded into Europe and the US but the revenues from each of these will take some time to develop, Australia still contributes the majority of Airtaskers revenues. I've attached a chart. 

Craig


----------

