Airtasker has announced a new deal with ARN Media, swapping $5 million of equity for marketing and advertising support from ARN.
👉 Background: Airtasker, founded in 2012, is the online marketplace that helps people outsource ad-hoc tasks like moving houses, or home repairs. It listed on the ASX in 2021, but its market cap has fallen from around $500 million to just $131 million.
👉 What happened: Airtasker has announced a new deal with ARN Media, the company behind KIIS and Pure Gold radio, swapping $5 million of equity for marketing and advertising support from ARN.
👉 What else: After two years, Airtasker will either pay ARN cash with interest or convert the value of the deal into shares at a 10% discount. It's hoping that this type of media deal will help scale its marketplace.
💡There are many ways for a company to receive investment, including swapping shares for screen time. For Airtasker, this meant giving shares to a media company in exchange for advertising support.
💡This is meant to be a win-win for both parties - Airtasker can access a heap of marketing support without needing to front up the cash and ARN Media get equity exposure to a growing business without needing to outlay cash.
💡This can be a juicy opportunity, especially for companies that are trying to expand fast. Previously we've seen:
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