Friday, June 11, 2021

TaskUs Surges In IPO

Santa Monica-based outsourcing provider TaskUs, founded by Bryce Maddock and Jaspar Weir, had a successful IPO on Friday, raising $304M in an IPO on the Nasdaq. The company was up around 30% in its IPO in trading on Friday, trading as TASK. The company priced its IPO last night at $23 per share, at the midpoint of its $22.00 to $24.00 initial estimated IPO range. Maddock and Weir founded the company when they were both still living with their parents, but quickly built the company into one with thousands of employees--mostly overseas--providing outsourcing tasks to local startups and other technology companies. Both Maddock and Weir are now worth more than $400M, with backer The Blackstone Group also gaining in the IPO effort.

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