There is competition inbound for the recently listed Freelancer (FLN)
There is competition inbound for the recently listed Freelancer (FLN). Elance and oDesk both operate online jobs marketplaces and the Californian based companies have just agreed to merge. The company will have a combined global community of more than 8 million freelancers and 2 million businesses with an estimated US$750 million in billings in 2013. The timing of the merger comes a the same time oDesk is reported to be making plans to establish a physical presence in Australia. oDesk's vice-president of its international division, Matt Cooper, said Australia was now the company's second-largest market globally and that it had twice the penetration rate here compared with its home market of the US. Whilst declining to comment on the Freelancer business model Cooper said he had welcomed the success of the Freelancer IPO saying it was a good result for the industry. (VIEW LINK) and (VIEW LINK)
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