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FREELANCER.COM, THE CROWDSOURCING MARKETPLACE ACQUIRES ESCROW.COM FOR $7.5 MILLION

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What does Freelancer.com do?

Freelancer.com, the crowdsourcing, job market place provides freelance workers to several firms on varied areas of work ranging from services, IT solutions, data entry etc. The businesses can hire freelancers though the firm and there are around 15 million freelancers being hired through freelancer.com in more than 200 countries.

Freelancer.com has acquired the Escrow payments firm Escrow.com. The firm holds the payment in the escrow account on behalf of the employer and the freelancer and releases them as soon as the job is complete.

How many firms has Freelancer.com acquired?

Freelancer.com has made around 12 acquisitions and the recent being Escrow.com for $7.5 million on the 27th April 2015.

Previous rounds of Acquisitions:

The year 2014 saw 2 acquisitions made by freelancer.com, one being $3.2 million in cash on 15th April for Warrior Forum and the second being for unknown amount for Zlecenia.Przez.net on the 19th March.

Freelancer.com has acquired vWorker, an online portal and Scriptlance, a freelance platform for undisclosed amounts in the year 2012.

Only one acquisition was made in the year 2011 for undisclosed amount for the site freelance.de.

The year 2010 saw two acquisitions made by freelance.com at undisclosed amounts on the 20th December for Limeexchange.com and on 19th of July for freemarket.com.

What is next for Freelance.com?

With Freelance.com’s own payment platform milestone payments leading into trouble over its reliability and other issues, the acquisition of Escrow.com has given the site a much-needed impetus over solving these issues. Chief executive Matt Barry said the acquisition will lead “to more than 15 million customers making secure payments and gives the site a strong cornerstone for entering payments space”.

More about Freelance.com:

Headquartered in Sydney and Matt Barry as the Chief Executive, it aims to provide good protection against bad jobs so that both the freelancer and the provider are happy. With the listing in Australian Securities Exchange it hopes to increase its foray into the space of better marketplace services.