Gross merchandise value (GMV) at Australia-based freelancing and crowdsourcing marketplace Freelancer.com rose by 8.4% year on year (y-o-y) to AUD34.1 million ($22.4 million U.S.) in Q3 2023, according to an announcement from parent company Freelancer Limited.
Cash receipts at Freelancer.com rose by 2.0% in Q3 to AUD11.4 million. Freelancer Limited said that Freelancer.com was EBITDA positive for the quarter but didn’t provide a specific figure.
Q3 saw the marketplace gain 1.6 million new users and 208,000 new projects. Average revenue per project size stood at $273 in the quarter, up by 1.9% y-o-y.
Overall, Freelancer Limited saw GMV fall by 3.0% to AUD222 million in Q3, weighed down by the 4.8% decline posted by Escrow.com, which accounts for the bulk of its revenue.
“Marketplace liquidity remains strong, with an average of 43 bids per project ([approximately] flat on pcp [prior calendar period]), and average entries per contest now at 335 (up 20.5% on pcp). Contests continue to be an exemplary method for accomplishing tasks,” the company stated.
It also noted the impact of AI: “We are observing a notable shift in the marketplace, where our users are rapidly embracing AI tools,” it noted.
“This adoption is considerably amplifying the pool of skilled labor in the marketplace, thereby boosting value and competitiveness. This is evident across areas including, but not limited to, copywriting, design, translation and video production, and we expect to see significant advances in AI tooling for software development and almost every other online profession.”
On the product and engineering side, the company said its focus this year had been on user-facing product, including personalization to drive core marketplace conversion via AI; collaborative features to drive retention, engagement and growth; improving acquisition through organic channels; and enhancing user experience and design.
Australia-based Freelancer.com was founded in 2009 and has been listed on the ASX since 2013.
