Media Capital Partnership Accelerates U.S. Expansion

REDWOOD CITY, Calif., Dec. 17, 2024 /PRNewswire/ -- Mercurius Media Capital (MMC), the first U.S. media-for-equity fund, has announced a $6 million media capital investment in Airtasker Limited, a leading online marketplace for local services, to expand its U.S. presence. 

With the U.S. gig economy contributing over $1.2 trillion annually and projected double-digit growth, Airtasker's platform is well-positioned to meet current demand and capitalize on future expansion.

"Airtasker's success in Australia and expansion into the UK and U.S. showcase its potential as a global gig economy leader. Under Tim Fung's leadership, the company is redefining how people connect with local service providers. We're excited to support their growth through our media capital model." said Piyush Puri, Founding Partner of MMC.

Media capital is a proven venture model where growth-stage startups trade equity with media companies in exchange for mass market reach and expertise. Bringing together premium media publishers under one roof, Mercurius Media Capital enables startups and media partners to compete for market share in the digital media landscape. The infusion of media resources will allow Airtasker Limited to scale its reach.

"We're thrilled to partner with MMC to create new job opportunities across the U.S.," said Airtasker Founder, Tim Fung. "MMC's' expansive portfolio of media partners and impressive record of investment in media for equity to scale world-changing technology will be invaluable. We can't wait to get started!"

The media capital model is a fast-growing alternative capital source that has fueled the success of more than 1000+ startups globally, including Uber, Coursera and Airbnb.  

About Mercurius Media Capital

Mercurius Media Capital (MMC) is a U.S.-based independent media fund backed by leading media companies, including Sinclair Broadcast Group, TelevisaUnivision, and Willow TV. With over $50 million in media capital, MMC pools premium media inventory at scale to create a powerful platform for portfolio companies to build their brands and accelerate growth.

Through strategic partnerships with its media partners, MMC helps emerging brands amplify their U.S. presence, driving success in a competitive market. The fund has supported several high-growth companies, including Deskera (a B2B SaaS ERP platform), Edly (a fintech platform for students), RVnGo (a peer-to-peer RV rental platform), and Captain Experiences (a leading outdoor sports marketplace).

For more information, visit www.mmc.us.

About Airtasker Limited

Airtasker Limited (ASX: ART) is a leading online marketplace for local services, connecting people and businesses who need work done with people who want to work. With a mission to empower people to realize the full value of their skills, Airtasker aims to have a positive impact on the future of work by creating truly flexible opportunities to work and earn income. Since launching in 2012, Airtasker has put more than $600m into the pockets of workers (payments made after all fee revenue is deducted) and served 1.8m unique paying customers across the world. For more information visit: www.airtasker.com.

Media Contact

Interdependence PR

Angelic Venegas, Account Director

mmcpr@interdependence.com  

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SOURCE Mercurius Media Capital