Airtasker announced today that Channel 4 Ventures, the venture arm of the UK鈥檚 Channel Four Television and Britain鈥檚 leading media-for-equity partner, will invest $6.5m (拢3.5m) for a 20% stake in Airtasker UK, the company’s UK subsidiary.
The investment will enable Airtasker to accelerate its UK marketplace growth through access to the UK鈥檚 biggest free streaming service (with over 1.2 billion views per year) and Channel 4鈥檚 monthly reach of more than 47 million people (78% of the UK population).
“We are super excited to welcome Channel 4 Ventures as a strategic partner in Airtasker UK,” said Airtasker Founder and CEO, Tim Fung. “In Australia, we were able to leverage the power of television to make Airtasker a household brand and achieve 20x revenue growth over 5 years together with Seven West Media – and we believe we can do even better with Channel 4 in the UK!”
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Vinay Solanki, Head of Channel 4 Ventures, expressed excitement about the partnership and the opportunity to work with Airtasker: “We鈥檙e looking forward to partnering with Airtasker to help support the launch of this unique marketplace in the UK.
“A key strength of Airtasker is that it enables people to earn additional income through flexible working on their own terms which will no doubt be a benefit to audiences during the current economic climate. We hope that Airtasker鈥檚 brand will quickly realise the significant reach and awareness that is only possible through the powerful medium of TV advertising.”
To drive this and other media partnership opportunities, Airtasker recently announced that Cass O’Connor will be joining as the new Chair of its Board, effective 1 July 2023. Cass is an accomplished leader with extensive experience in strategy, technology, and digital media, through a number of board and executive positions at some of Australia鈥檚 most successful technology companies.
