Black Swan Covid-19 took a toll on the world’s job market, opening a can of worms for the professionals as well as the businesses and might well have led them to tatters. But thanks to the online crossroad staged by Freelancer Limited (ASX: FLN) for serving up the cost-effective synergies and turning them into productive encounters, that small firms continue to move on the growth trajectory.
Freelancer platform, transforming ideas of millions into reality has consistently been pushing the boundaries of growth for the businesses and entrepreneurs as it connects them with myriads of talented professionals in its colossal freelancing and crowdsourcing marketplace. And the Half Yearly Results in a trillion-dollar market is a testament that Freelancer is at the vanguard of redefining the future of work.
A Glimpse at Half Yearly Performance.
The Company completed 1H20 with 46.7 million users and 18.1 million jobs, reverberating a steady clientele at its online rendezvous point. Furthermore, when the stalled hiring is sending the economies into a standstill, Freelancer has been paving a robust path to revival as the Group onboarded 5 million registered users, offering 1.1 million jobs over 1,600 job categories in 1H20.
COVID-19 becoming the new member of C-suite, has stimulated a strong wave of digital transformation across thousands of diverse job categories. Gaining grounds from the budding potentials, the Company’s bag of progress statistics saw spurring of growth momentum in June 2020 compared to June 2019. The Group was profitable in April, May, and June 2020.
Subsidiaries Redefining Growth.
Freelancer’s subsidiaries, Escrow.com and Freightlancer seem further to bolster the Group’s encouraging journey for radical innovation. Escrow.com appears to power the world’s trade through the online solution, which is audited secure, licensed, and bonded and is used for a wide range of valuable transactions protecting both buyer and seller.
It added another notch on its belt by its strategic partnership with eBay Motors, making it as the only online payment method by online car selling giant.
Meanwhile, Freightlancer continued to leverage off its innovative technology for connecting freight owners with transport operators at a global scale.
Notably, FLN stock marked an uptick of ~60% in last three months to close at $0.600 on 29 July 2020.
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