TaskUs

TaskUs is a U.S. outsourcing company that handles customer service and content moderation for companies including Facebook and Doordash.

TaskUs Inc.
TypePublic
Nasdaq: TASK}
IndustryProfessional services
Founded2008 (2008)
HeadquartersNew Braunfels, Texas, U.S.
Key people
Bryce Maddock
(Co-founder and CEO)
Jaspar Weir
(Co-founder and President)
ServicesOutsourcing
RevenueIncrease $478 million (2020)[1]
Increase $34.5 million (2020)[1]
Number of employees
27,500 (worldwide 2021)[1]
Websitewww.taskus.com

History

The company was founded by Bryce Maddock and Jaspar Weir in 2008 in Santa Monica, California.[2]

Early funding included $15 million from Navegar, a private equity fund in the Philippines, and a $14 million loan from Bridge Bank. The Blackstone Group invested $250 million in 2018.[2][3][4]

It moved its headquarters to San Antonio, Texas in 2017, then to New Braunfels, Texas in 2018.[5]

In 2020, revenue climbed 33% to $478 million.[2]

The company had its initial public offering in June 2021; it is traded on NASDAQ as Nasdaq: TASK.[6]

Its revenue for the first half of 2021 was $332.9 million.

Products and services

The company's main service is providing content moderation for different companies. Furthermore they offer consulting, content security and AI operations.[7]

Company

The company's principal operations are in the Philippines, with about 19,000 employees (70% of their total) located there. About 4000 employees are located in the United States. [8][9][10][11] Altogether the company has about 27,500 employees spread across eight countries.[2]

Approximately 20% of the company's revenue is from providing content moderation for Facebook, and about 12% is from Doordash.[12][13][14][15]

Other customers include Coinbase (beginning in 2017), Netflix, Zoom (beginning in 2020), Whisper, Tinder, AutoDesk, and Uber (beginning in 2013).[2][8][16]

The current CEO is Bryce Maddock. Jaspar Weir, also co-founder of TaskUs, sits on the company's boards of directors.[17]

References
  1. "TaskUs founders' path to Nasdaq started with high school parties and a yogurt venture in Argentina". CNBS. Retrieved 17 January 2022.
  2. Levy, Ari (11 June 2021). "TaskUs founders' path to Nasdaq started with high school parties and a yogurt venture in Argentina". CNBC. Retrieved 31 August 2021.
  3. "How Two High School Friends Turned $25,000 Into an $80 Million Business". Inc.com. June 2016. Retrieved 31 August 2021.
  4. "TaskUs Attracts $15 Million Strategic Investment from Navegar". BusinessWire.
  5. "TaskUs files for IPO; HQ now in New Braunfels instead of California - Austin Business Journal". Austin Business Journal. 13 April 2021. Retrieved 31 August 2021.
  6. TaskUs (2021-06-10). "TaskUs, Inc. Announces Pricing of Initial Public Offering". GlobeNewswire News Room. Retrieved 2022-01-06.
  7. "Home". TaskUs. Retrieved 2022-01-17.
  8. "How Two High School Friends Turned $25,000 Into an $80 Million Business". Inc.com. June 2016. Retrieved 31 August 2021.
  9. "TaskUs prospectus". sec.gov. Retrieved 31 August 2021.
  10. "TaskUs reports more than 57% year-over-year revenue growth - San Antonio Business Journal". San Antonio Business Journal. 12 August 2021. Retrieved 31 August 2021.
  11. Abad, Roderick (6 October 2014). "BPO firm TaskUs to invest $25M for PH expansion". ABS-CBN.
  12. "Blackstone Weighs Options for Outsourcing Firm TaskUs". Bloomberg.com. 4 February 2021. Retrieved 31 August 2021.
  13. "Research analyst says TaskUs is set to ride a growth wave - San Antonio Business Journal". San Antonio Business Journal. 19 April 2021. Retrieved 31 August 2021.
  14. "QUARTERLY REPORT ON FORM 10-Q FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2021". sec.gov. Retrieved 31 August 2021.
  15. Satariano, Adam; Isaac, Mike (31 August 2021). "The Silent Partner Cleaning Up Facebook for $500 Million a Year". The New York Times. Retrieved 31 August 2021.
  16. Lingle, Brandon (13 April 2021). "New Braunfels' tech firm TaskUs files to go public". San Antonio Express-News. Retrieved 31 August 2021.
  17. "TaskUs CEO took huge pay cut during pandemic". www.bizjournals.com. Retrieved 2022-01-10.
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