Australia-based freelance jobs portal Freelancer has today announced acquiring Warrior Forum, a 17-year-old American internet marketing forum and marketplace for US$3.2 million. The funds have come from the existing cash reserves of Freelancer, which is now a publicly listed company.
This is the second acquisition deal Freelancer has announced this month, following early-April’s announcement of buying Fantero, a virtual content marketplace. In March, it also acquired Polish jobs marketplace Zlecenia for an undisclosed amount.
Based on a normalised revenue run rate, which sees an implied price to sales multiple of 3x, it can be inferred that Warrior Forum, which has more than 732,000 users, was generating US$1 million in revenues. Typically, Warrior Forum generates revenue via forum access fees, self-serve advertising and listing fees for marketplace items, like websites, domain names and the hiring of freelancers, said an official statement.