SWOT Analysis of the Airtasker Company

Introduction

Airtasker is one of most famous website and app of Australia that providing job opportunities and helping clients demanding for home-based tasks at the same time. It is described as "a trusted community network that unites people who need to outsource tasks and find local services with people who want to make money and are willing to work". It is an online platform and is the leading task-based services provider that allows users to hire on-demand workers for home cleaning, handyman jobs, admin work, promotional work, computer & IT support, photography, graphic design or even build a website. Here tasks ranges from simple to complicated one. Specifically, the company allows clients to outsource mobile and marketing tasks and activities (Airtasker, 2020c). The business model is a central component of a website and related mobile app (Minter, 2017). Airtasker's headquarters is located in Sydney, New South Wales. It was a collaborative idea of Australian entrepreneurs Tim Fung and Jonathan Lui and they devised it in 2012. In 2013, the very first investor in Airtasker was Peter Hammond of Investment firm Exto Partners. Thirst for progress worked effectively when it came to increasing revenue to AUD$1.5 million right after the beginning. According to Airtasker, in 2014, it reached an average of around 10,000 members per month, which in 2016 grew to 25,000 members per month.

Seeking innovation in the business has acted as an agent for the company to reach 1,700,000 users. Airtasker generated around $6.1 million of revenue in 2019. Seven West Media, Exto Partners, and Morning Crest Capital are some of Airtasker's investors. Airtasker purchased its main competitors TaskBox in 2013 and Occasional Butler in 2014. Airtasker's top competitor is TaskRabbit. The motto of Airtasker is “the only way to do great work is to love what you do”. There are over 1.6 million people, who are using Airtasker and creating over $215 million worth of jobs. Moreover, over $15.04 million jobs are available on Airtasker per month.

Both the website and the app are client-friendly, and a basic interface exists in which one can either post a task or navigate through the tasks. The competing offers put online as opposed to an answer to the request help customers figure out the accessible workers at the best rate possible (Ma and Yang, 2018). It was the technological advances that put service providers and service users back together (Manyika et al., 2016). This is also witnessed for Airtasker where individuals working as freelancers can search for a range of opportunities based on their interests and choose them based on their choices. It makes Airtasker one of the other apps and websites that offers gig job opportunities in the gig economy (Ma and Yang, 2018).