Deal was announced in April.
Online freelancing marketplace Freelancer.com has completed its purchase of internet escrow service Escrow.com.
Freelancer.com announced in April that it agreed to purchase the company for $7.5 million. Escrow.com generated $5 million in revenue and $1.2 million EBITDA last year on $220 million of transactions.
Freelancer.com has a market cap of AUS $800 million. It owns a number of online freelancer marketplaces, in addition to online marketing forum Warrior Forum.
Escrow.com came on Freelancer.com’s radar because CEO Matt Barrie used the service to close some transactions, including the company’s acquisition of Warrior Forum.
To learn more about Freelancer.com and its plans for Escrow.com, listen to this podcast with Barrie I recorded shortly after the acquisition was announced.