Freelancer buys virtual marketplace

Company News

Newcomer to the ASX, Freelancer Limited (ASX:FLN), is continuing its growth trajectory with its acquisition of the virtual content marketplace, fantero.com. 
 
Freelancer listed on the ASX in late 2013 and operates some 40 websites that facilitate freelancing, outsourcing and crowd funding.

The Fantero Network has over 100,000 members and consists of almost 1 million items of digital content. 
 
CEO and Chairman, Matt Barrie, says freelancers are always producing all sorts of digital content, and this is an excellent way to monetise those assets.

The purchase is not expected to have a material impact on revenue in the current financial year.
 
Freelancer reported a net profit of $753,000 in the 2013 calendar year.