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article imageFreelancer.com shares soar

By Tim Sandle     Nov 15, 2013 in Business
Sydney - The stock market debut of Freelancer.com, the Australian on-line jobs site, has been a success. The share price rose 400 percent on Friday.
Early market data indicated that shares in Freelancer.com launched on the Australian Stock Exchange at A$2.50 ($2.33) each, a significant increase from the A$0.50 they were initially offered at. It is estimated, by ABC News, that the company has raised A$15m by offering some 30 million shares.
The aim of Freelancer.com is to match freelancers with small businesses around the world. The company was founded in 2009 by Matt Barrie. Before its launch, the site claimed more than nine million users. According to the BBC, the site is said to be world's largest freelancing and outsourcing site in the world, specializing in copy-writing and graphic design jobs.
The site is an example of a successful start-up and e-commerce site. A start-up company is a company, a partnership or temporary organization designed to search for a repeatable and scalable business model. These companies are generally newly created and are in a phase of development.
The news about the Freelancer success also confirms the strong revival in the Australian IPO (initial public offering) market.
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