Advisers
Learn
Newsletter
Offers
Podcast
About
  Back
~
2
min read
· Posted on
February 21, 2024

Airtasker gives Nadal a run for his money with an insane COVID comeback

Airtasker is the Aussie company that helps people get odd jobs done...like bathing your pet parrot.

What's the key learning?

  • Airtasker has reported a 40% quarter-on-quarter increase in its gross marketplace volume, to $48.6 million
  • Gross marketplace volume is the total value of merchandise - or in Airtasker's case, tasks - sold over a given period of time
  • It's often used to determine how healthy a marketplace business is.

Background: Airtasker is an Aussie company that launched back in 2012. The company helps people get odd jobs done (like bathing your pet parrot) and it has around 2 million users.

What happened: Airtasker struggled during COVID lockdowns in 2021. Restrictions stopped handy people from being able to fulfil handy tasks, and as a result, the company's gross marketplace volume took a $12 million hit.

What else: Now, things have bounced back quicker than Nadal in the Aus Open finals. The company's reported gross marketplace volume increased to $48.6 million - a 40% increase quarter-on-quarter!

So what's the key learning?

💡Gross marketplace volume (or gross merchandise volume in a marketplace) is the total value of merchandise sold over a given period of time.

💡In Airtasker's case, it would be the total amount of revenue generated on the platform from tasks, as opposed to just the company's overall revenue.

💡GMV is often used to determine how healthy a marketplace business is, because it can help provide insight into a company's performance, even if they aren't producing any goods themselves.

Ready to win at money?

Sign up for Flux and join 100,000 members of the Flux family

Sign Up
A button to App StoreGoogle Play store button
Excellent  4.9 out of 5
Star rating
© 2024 Flux Technologies Pty Ltd and Flux Media Pty Ltd
All rights reserved.
Explore
HomeLearnPodcastAboutNewsletterFlux at WorkAdvisers
Offers
Home LoansSavings AccountsBank AccountsShare TradingCar LoansCredit Cards
Support
CareersContact usPrivacy PolicyTerms of Use
Disclaimer: Flux Technologies Pty Ltd (ABN 86 634 507 172) is an authorised representative (Representative No. 1283166) of Mozo Pty Ltd who is the holder of AFSL No. 328141. We also provide general advice on credit products under our own Australian Credit Licence No. 530103. The product information presented does not constitute an offer and we are not recommending or suggesting any particular product. Any product advice presented is of a general nature only, and is not to be taken as any sort of advice as it has not taken into account your personal circumstances, objectives, financial situation or needs. Flux may not cover all products available to you. Check out our Credit Guide and Financial Services Guide for more information.

All information contained in the Flux app, www.flux.finance, www.joinflux.com, app.flux.finance and any podcast of Flux Media Pty Ltd (ABN 27 639 804 345) is for education and entertainment purposes only. It is not intended as a substitute for professional financial, legal or tax advice. Flux Media Pty Ltd is the owner of the registered trade mark, 'What the Flux'. While we do our best to provide accurate information on the podcast, we accept no responsibility for any inaccuracies that may be communicated.
No items found.