sales Escrow.com purchased for $7.5 million

[equity78]

Freelancer.com announces the acquisition of Escrow.com and completion of capital raising

Some big news for a Sunday night, Escrow.com getting acquired by Freelancer.com. Back in September of 2014, Escrow.com purchased Agreed.com.

SYDNEY, April 27, 2015:

Freelancer.com, the world’s largest freelancing and crowdsourcing marketplace,today announced that it had entered into a definitive agreement to acquire Escrow.com from a private investor for US$7.5 million in cash, and completed a AUD$10 million placement of ordinary shares to institutional investors.

http://www.thedomains.com/2015/04/26/escrow-com-purchased-for-7-5million/

 

[James Rodman]

only 7 million? lol

 

[silentg]

Congrats to escrow.com team. Why the price is so low?

 

[NameYourself]

I agree, 7.5M makes no sense.. this is a full fledged, very well known company.. there's no way it sold for such a low sum unless the entire company was deep in the red.

 

[silentg]

O̶k̶ ̶t̶h̶e̶r̶e̶ ̶w̶e̶r̶e̶ ̶s̶t̶o̶c̶k̶s̶ ̶i̶n̶v̶o̶l̶v̶e̶d̶.̶ ̶
̶$̶7̶.̶5̶ ̶m̶i̶l̶l̶i̶o̶n̶ ̶c̶a̶s̶h̶ ̶a̶n̶d̶ ̶$̶1̶0̶ ̶M̶i̶l̶l̶i̶o̶n̶ ̶A̶U̶D̶ ̶(̶$̶7̶.̶8̶ ̶M̶i̶l̶l̶i̶o̶n̶ ̶U̶S̶D̶)̶ ̶i̶n̶ ̶s̶t̶o̶c̶k̶.̶


Edit: sale price was only $7.5million

 

[xull]

Wow. A good deal for Freelancer I think. Might be a good chance for Freemarket to rise!

 

[forge]

Time to find a new escrow company?

 

[equity78]

Ok there were stocks involved.
$7.5 million cash and $10 Million AUD ($7.8 Million USD) in stock.

No the company placed the stock to raise money for the acquisition.

Escrow.com did $5m revenue for 2014, not a huge company really.

 

[forge]

Wouldn't you think the domain alone would be worth $2M at least?

 

[The New Guy]

Yuck.

 

[silentg]

No the company placed the stock to raise money for the acquisition.

Escrow.com did $5m revenue for 2014, not a huge company really.

Ok freelancer got a good deal.

 

[xull]

Wouldn't you think the domain alone would be worth $2M at least?

Second to this!

 

[johname]

Next year someone will buy Freelancer.com lol

 

[silentg]

Next year someone will buy Freelancer.com lol

My guess is they bought escrow.com to use with their freemarket.com. To compete with flippa and their free escrow.

 

[Soofi]

7.5 million? That is it?

Am I missing something here?

 

[Soofi]

Time to find a new escrow company?

DN.com

 

[Sukhvir-Singh]

My guess is they bought escrow.com to use with their freemarket.com. To compete with flippa and their free escrow.

May be this was the reason!!

 

[LaunchUp.com]

Here's an article to help bring some clarity: http://www.domaininvesting.com/breaking-escrow-com-acquired-by-freelancer-com/

 

[onebrand.co]

After the all the negativity surrounding Freemarket, looks like its no more Escrow.com...

 

[Soofi]

After the all the negativity surrounding Freemarket, looks like its no more Escrow.com...

lol Escrow.com will be a forgotten brand now under the not-so-popular leadership of Freelancer.