Freelancer picks up DoNanza assets

ASX-listed online skills market place Freelancer has acquired the assets of defunct Israeli website DoNanza.

DoNanza, which offered freelancers tools to find jobs, shuttered its doors on 30 July last year.

DoNanza had 360,000 freelancers on its database, according to Freelancer.

"Freelancer are currently in the process of migrating all DoNanza accounts to the network," a message on DoNanza's website states.

"The migration is due for completion by 9:00am EDT on Wednesday March 18th, 2015. As a DoNanza user you will receive an email with information on how to log in when the migration is complete, along with a special introductory gift. The team at Freelancer are looking forward to welcoming you to their network!"

A statement from Freelancer said that the acquisition will be funded through its existing cash reserves and is not expected to have a material impact on revenue in FY15.

Last month Freelancer reported a 39 per cent increase in revenue for the 12 months ending 31 December.

The crowdsourcing company reported revenue of $26.1 million, up from $18.8 million for the previous corresponding period. Overall the company reported a net loss after tax of $1.5 million.

The company said it had 14.3 million registered users for its crowdsourcing marketplace.

Last year Freelancer acquired the Warrior Forum marketing community, Polish freelance marketplace, content marketplace Fantero and startup conference SydStart.

Copyright © 2015 IDG Communications, Inc.

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