Airtasker acquires Zaarly for $3.4 million

SYDNEY: Airtasker Limited has completed the acquisition of Zaarly, a US-based local services marketplace, for $3.4 million.

The acquisition of Zaarly provides Airtasker with more than 597,000 registered users (Customers) and 900+ verified service providers (Taskers) to jump start expansion in the US.

Zaarly’s highly experienced team of marketplace product, engineering and operations executives will be led by CEO Bo Fishback who joins Airtasker to lead US market expansion.

Airtasker has also launched a fully underwritten placement of 20.7 million new ordinary shares in Airtasker issued at $1.00 per share to institutional, professional and sophisticated investors with proceeds of the offer used to fund the Zaarly acquisition, expansion into key city markets in the US and UK, and the costs of the offer.

The placement is expected to settle on 27 May 2021and the shares issued under the placement will be issued without a disclosure document on 28 May 2021. The placement shares will be issued within Airtasker’s existing placement capacity under ASX Listing Rule 7.1.

Airtasker (ASX: ART) is Australia’s leading online marketplace for local services, connecting people and businesses who need work done with people and businesses who want to work. With its mission to empower people to realise the full value of their skills, Airtasker aims to have a positive impact on the future of work by creating truly flexible opportunities to work and earn income. Since launching in 2012, Airtasker has enabled more than $1 billion in working opportunities and served more than 1 million unique paying customers.

Airtasker Ltd

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20 May, 4:10 pm GMT+10 · Disclaimer

ASX: ART

www.investor.airtasker.com

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