Interview with Tim Fung - Airtasker

The Sub11 Podcast

# Business Overview

- AirTasker is a platform-based business connecting people for physical tasks

- Operations in Australia, UK, and US

- Focus shifted from top-line growth to generating positive free cash flow

- Achieved positive free cash flow of $2.6 million in the last quarter

- Group revenue up 11% year-over-year

# Market Strategies

## United States

- Keeping costs tight

- Preparing for media partnership strategy

## United Kingdom

- Partnered with Channel 4

- GMV run rate grew by 60% over past six months

- Showing promising results from media partnership strategy

## Australia

- Announced partnership with oOH media for brand awareness

- $6 million media deal in exchange for $5 million convertible note

# Business Model

- Open community and infinitely horizontal model

- User-generated content drives task creation

- Similar types of tasks across different markets

- Physical, real-world jobs less likely to be automated or replaced by AI

# AI and Technology

- Core business model well-positioned against AI threats

- Exploring AI for operational efficiency (e.g., customer service, development)

- Potential AI applications in product and user journey improvements

- Cautious approach to AI investment, focusing on education and skill-building

# Marketing and Brand Awareness

- Emphasis on building brand awareness to drive marketplace liquidity

- oOH media partnership provides $6 million in outdoor advertising across Australia

- Out-of-home media seen as unmissable and highly trusted form of advertising

- Exploring contextually relevant advertising opportunities

# Financial Strategy

- Focus on capital efficiency and profitability

- Convertible note structure with oOH media provides flexible financing options

- Aiming to leverage media partnerships for cost-effective growth

# Future Outlook

- Plans to reinvest in growth while maintaining positive free cash flow

- Expanding media partnership strategy to accelerate growth

- Exploring opportunities to create high-quality marketing content for larger audiences

- Continued focus on discipline and profitability as an ASX-listed company

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