Freelancer buys assets of marketplace DoNanza

Company News

Freelancer Limited (ASX:FLN) has bought the assets of a freelance job marketplace and aggregator called DoNanza. 
 
The online job outsourcing company says the acquisition will be funded from existing cash reserves and is not expected to have a material impact on annual revenue. 
 
DoNanza was founded in 2008 and aggregated and consolidated freelance jobs published across the web. 
 
The jobs were then matched with more than 360,000 freelancers in DoNanza’s database based on skill sets, price and expectations. 
 
DoNanza received $1 million in financing in 2011 before closing down in July 2014. 
 
Freelancer booked a net loss of $1.84 million over the 2014 calendar year.