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9 Oct 2017 (TheAge) – Freelancer: Australia’s fallen tech star?

(9 October 2017, The Age, BusinessDay, p18, John McDuling)

‘Before Atlassian became Australia’s undisputed innovation poster child, there was Freelancer. For a while – in the days before anyone really talked about the “gig economy” – the online outsourcing marketplace was considered the great hope of the nation’s tech industry.’ <snipped…>

Freelancer - weekly price chart‘Back in 2013, Freelancer listed on the ASX (code FLN), . . .  According to reports at the time, CEO Matt Barrie rang the opening bell so hard it broke. . . Freelancer’s shares initially soared, valuing the business, ever so briefly, at $1 billion. Now, nearly four years later, and the picture is markedly different.  Last month, Freelancer’s shares slipped below their 50¢ IPO price. And last week the stock closed at 46¢, equalling its lowest level since listing. All up the share price has fallen 69 per cent over the past year. Over the same period, the All Ordinaries Index (which has significantly lagged other developed markets in recent years) has risen 4 per cent.  ‘

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