Australian service marketplace Freelancer to add American firm Warrior Forum in $3.2M cash deal
Freelancer will buy American Internet marketing forum Warrior Forum in a $3.2-million cash deal. The company will fund the acquisition using its own cash reserves, according to Proactive Investors Australia.
ABN Newswire cited Freelancer chief executive officer (CEO) Matt Barrie saying: "Being the world's #1 Internet marketing forum, Warrior Forum provides the existing Freelancer community a complementary community based platform to interact and transact- enhancing user engagement in an important segment of work being performed in our online services marketplace."
Under the terms of the acquisition deal, Warrior Forum will still run as an entity independent from Freelancer. The latter will provide the forum with resources and workforce to help improve the marketplace and forums. The deal will also give Freelancer's users a community-based platform for Internet marketing businesses, the report detailed.
Warrior earns money by charging a fee for access, advertising, and listing in the forum. Founded in 1997, it has become one of the oldest and biggest websites of its kind in the US, Proactive Investors Australia reported.