Freelancer.com Acquires Warrior Forum
Freelancer.com acquires Warrior Forum, The world’s largest online marketing community and marketplace. Early Today, Freelancer Ltd. (ASX:FLN) announced the acquisition of the most popular internet marketing forum (WarriorForum.com). The acquisition price was $3.2 million, which is funded by the existing cash reserve of the company. This represents a price to revenue multiple of ~3x (based on normalized revenues run rate, which is aprrox. $1.0 million).
Warrior Forum will remain independent to Freelancer.com and will have a separate dedicated team to support the warriors.
Here is a brief about both the companies.
- Founded in 1997 by Clifton Allen, WarriorForum is the largest marketing community for the internet professionals worldwide.
- Ranked in Top 250 Websites raked by Alexa.com.
- 732000+ registered members in the community, which comprise the world’s Best online entrepreneurs, internet marketers and technology enthusiasts.
- Major Features include: The War Room, WSO (Warrior Special Offers) and The Warrior Forum.
- Forum’s business/revenue model is from the – Fee they charge to access the forum, advertising and fee to list products in the marketplace.
- Freelancer is the world’s largest freelancing and global-outsourcing marketplace.
- It was founded in the year 2009 by Matt Barrie
- Freelancer have over 10.8 million registered users (including Employers and Freelancers from about 247 countries)
- Has been awarded with the Webby Award three times.
Acquiring reputed online marketplaces has been their trade from the early days, here are some of the outsourcing marketplaces acquired by Freelancer:
About this Big Move by Freelancer, Matt Barrie (CEO & Chairman of Freelancer) 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.
This seems to be an interesting step by Freelancer. If you have something to say or share about this Acquisition, Please feel free to comment below. Cheers!