{"id":8651,"date":"2021-06-08T16:34:12","date_gmt":"2021-06-08T13:34:12","guid":{"rendered":"https:\/\/roboforex.com\/blog\/?p=8651"},"modified":"2023-06-29T13:14:18","modified_gmt":"2023-06-29T10:14:18","slug":"ipo-of-taskus-inc-outsourcing-for-hitech","status":"publish","type":"post","link":"https:\/\/roboforex.com\/blog\/2021\/06\/08\/ipo-of-taskus-inc-outsourcing-for-hitech\/","title":{"rendered":"IPO of TaskUs Inc.: Outsourcing for HiTech"},"content":{"rendered":"\n

Any business owner tries to minimize their company’s costs and expenses. One of the ways to do it is to outsource some tasks and functions. In the analog business, it is a common practice to engage outside employees, for example, for creating applications and website designs, cleaning, and accounting. However, it might be difficult for tech companies to find a field expert or specialist to outsource their tasks to. That's where the hero of this article comes in.<\/p>\n\n\n\n

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TaskUs<\/strong> specializes in providing companies of the HiTech, FinTech, and HealthTech sectors with outsourcing services. An IPO of TaskUs will take place on June 10th, 2021, at the NASDAQ, and its shares will start to be traded the next day, the “TASK<\/strong>” ticker. TaskUs managed to acquire popularity with many famous brands and demonstrate a 60% average annual revenue growth rate. In this article, we’ll discuss the company’s recipe for success and why its shares may be interesting for investing in.<\/p>\n\n\n\n

<\/span>Business of TaskUs<\/span><\/h2>\n\n\n\n

TaskUs was founded in 2008 with the headquarters in Texas, which is rather unusual for tech companies. TaskUs has 18 offices in 8 countries that employ 27,500 people. The company’s CEO is Bryce Maddock<\/strong>, who is also its co-founder. During the previous rounds of financing, TaskUs raised $400 million and its major investor is Blackstone Management Associates.<\/p>\n\n\n

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Business of TaskUs<\/figcaption><\/figure><\/div>\n\n\n

TaskUs offers digital outsourcing services for tech companies in the field of protection and development of their brands. The company is focused on analyzing customer experience (frequently used features, customer preferences, etc.) and content security (observance of community rules, verification of texts and releases for illegal materials, etc.) actively using artificial intelligence. In 2020, 96% of TaskUs’ sales were effected via digital channels.<\/p>\n\n\n

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Business of TaskUs<\/figcaption><\/figure><\/div>\n\n\n

TaskUs’ clients are over 100 companies from such digital economy sectors as social networks, eCommerce, games, streaming platforms, delivery, and taxi. The company’s services are popular among Netflix<\/a>, Uber, Coinbase, Zoom, and Oscar. The key advantage for them to use outsourcing services offered by TaskUs is the opportunity to focus on other more important aspects of their business.<\/p>\n\n\n

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Business of TaskUs<\/figcaption><\/figure><\/div>\n\n\n

TaskUs’ sales improve together with its clients’ revenue. According to public information, from 2017 to 2020 год, the company’s clients’ revenue added 40% on average every year, while the company itself raised its sales by 60%. As we can see, the issuer is very good at benefiting from its market niche advantages and develops very actively. Now let’s talk about the prospects of the digital outsourcing market.<\/p>\n\n\n\n

<\/span>The market and competitors of TaskUs<\/span><\/h2>\n\n\n\n

According to the research from Grand View Research, the global outsourcing market in 2020 was $232 billion. The same research says that it may reach $446 billion by 2028, which means that an average annual growth rate from 2021 to 2028 is expected to be 8,5%. The key driver for that is a global expansion of social networks, messengers, and other ways of communication between companies and their clients.<\/p>\n\n\n\n

We should also mention the overall growth of outsourcing services in the digital economy. Below you can find the forecast for the American market.<\/p>\n\n\n

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The market of TaskUs<\/figcaption><\/figure><\/div>\n\n\n

Major competitors of TaskUs are:<\/p>\n\n\n\n