receives US$400 million takeover offer: Report

Australian-based outsourcing website is reportedly the subject of a US$400 million takeover offer from Japanese recruitment site Recruit Co.


Technology news website TechCrunch reports that “sources close to the situation” say Recruit Co. had made the offer.


StartupSmart understands the report is accurate.’s website says it is the world’s largest outsourcing marketplace with over eight million professionals signed up, more than four million projects posted worth over $US1 billion.


The website allows users to post online projects they need done, which freelancers then bid to carry out.


Benjamin Chong, a partner at investment firm Right Click Capital, told StartupSmart the international interest in an Australia-based technology company would boost the confidence of the local start-up sector.


“It’s really showing people that you can do some good stuff from here,” he says.


“What the internet has been able to do is open huge markets and shows that you don’t have to move to Silicon Valley to operate one of these businesses.”


Last month acquired Japan’s for an undisclosed sum. was founded in 2009 by chief executive Matt Barrie, who began running the business in his garage with one employee. Technology entrepreneur Simon Clausen also owns a stake in the company.

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