Companies

Jan 10, 2014

Is Freelancer a $600m company? Behind the online market splash

Freelancer launched with a bang on the stock exchange last year. But can CEO Matt Barrie justify the faith investors have paid him? There's big challenges ahead.

Adam Schwab — Business director and commentator

Adam Schwab

Business director and commentator

Freelancer

Of all the floats in 2013, the most intriguing has been the debut of online marketplace Freelancer. With a float price of only 50 cents (implying a market value of around $218 million), shares soared on listing, hitting $2.60 on its opening day (briefly valuing the business at $1.1 billion and CEO Matt Barrie at more than $500 million). Since then, the share price has fallen back to $1.37 — still a lofty premium over the listing price.

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