UK Media Partnership Announcement
| Stock | Airtasker Ltd (ART.ASX) |
|---|---|
| Release Time | 8 Oct 2025, 8:27 a.m. |
| Price Sensitive | Yes |
Airtasker expands UK media partnership with Channel 4
- Channel 4 completes £2.5 million follow-on media investment in Airtasker UK
- Investment builds on previous £3.5 million and £4 million investments
- Airtasker UK hits £21 million annualised GMV run rate in June 2025
Airtasker Limited (ASX:ART) today announces that 4 Ventures, the venture arm of Channel Four Television Corporation in the UK (Channel 4), has completed a follow-on media capital investment of £2.5 million ($5.1 million) in media inventory in Airtasker UK (Airtasker's UK subsidiary) to further accelerate growth in the UK. This third round of funding comes as Airtasker UK hits a gross marketplace volume (GMV) annualised run rate of over $21 million in June 2025 and provides Airtasker UK with the option to repay Channel 4 at maturity in October 2027 with the principal plus a 5% coupon or to convert Channel 4's investment into equity in Airtasker UK at a 10% discount to an agreed valuation (Convertible Note). The investment builds on Channel 4's initial investment of £3.5 million ($6.5 million) for a 20% equity stake in Airtasker UK in June 2023 and a follow-on investment of £4.0 million ($7.8 million) in November 2024, which has a similar convertible note structure and also provides Airtasker UK with the option to repay Channel 4 the principal plus a 5% coupon or convert Channel 4's investment into equity. In June 2028, Airtasker has the right and obligation to repurchase all equity held by Channel 4 in Airtasker UK. The valuation of Airtasker UK will be determined based on Airtasker UK's revenue multiplied by Airtasker's revenue multiple. Airtasker has the option to purchase the equity in Airtasker UK in either cash or Airtasker equity.
Airtasker's media partnership strategy has been an incredible catalyst for building Airtasker's brand in the UK, helping the company connect with millions of people who are looking to get things done and monetise their skills. This renewed investment is a testament to the growth Airtasker has seen so far and the huge opportunity the company has ahead to make Airtasker a household name in the UK.