Freelancer.com acquires virtual content marketplace Fantero
SYDNEY, April 4, 2014 /PRNewswire/ -- Freelancer.com has today announced the acquisition of Fantero.com, a leading virtual content marketplace within the design and freelance communities. Populated with a collection of almost 1 million unique items of digital content from over 100,000 users, the marketplace specializes in stock photos, web templates, audio, music, flash and video files as well as 3D models, plugins and scripts. This diverse range of content is expected to be a valuable resource for Freelancer's user base of 10.7 million users.
Fantero evolved out of BuyStockNetwork, an early pioneer in the virtual content landscape, which later changed its name to Albumo. Founded by young entrepreneurs Max Basaraba and Zakhar "Zak" Chumak, Albumo provided a platform for up and coming photographers to monetize the images they owned. This image focused concept was expanded to become the diversified digital content marketplace, Fantero.
Founders Max and Zak remain committed to helping Fantero grow as part of the Freelancer community and believe "the acquisition will help expand Fantero's vision to build a complete cycle ecosystem where job seekers meet employers and have all of the digital tools and assets in place to fulfill any job."
Freelancer CEO Matt Barrie recognises that "Fantero is an excellent fit with our Freelancer community. Freelancers are constantly producing all sorts of digital content, and this is an excellent way to monetise these assets - in addition, the resource will help increase productivity and provide immediate value for those working on thousands of projects posted on Freelancer every day."
The acquisition of Fantero will be funded from the Company's existing cash reserves and is not expected to have a material impact on revenue in FY14.
Triple Webby award-winning Freelancer.com is the world's largest freelancing and crowdsourcing marketplace by total number of users and projects posted. Over 10.7 million registered users have posted 5.7 million projects and contests to date in over 600 areas as diverse as website development, logo design, marketing, copywriting, astrophysics, aerospace engineering and manufacturing. Freelancer Limited is listed on the Australian Securities Exchange under the ticker ASX: FLN.