ASX-listed jobs platform Airtasker (ASX:ART) has cut a new media-for-equity deal with 4 Ventures, the VC arm of Channel Four Television, worth £2.5 million (A$5.1m).
The media inventory deal for its British subsidiary, Airtasker UK, is the third as the business hit a gross marketplace volume annualised run rate (ARR) of more than $21 million in June 2025. The tech platform also has 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 .
Channel 4’s initial investment of £3.5 million ($6.5m) in June 2023 gave them a 20% equity stake in Airtasker UK. A follow-on investment of £4 million (A$7.8m) in November 2024, has a similar convertible note structure and repayment option to the latest deal.
Airtasker founder and CEO Tim Fung said the new media inventory will build on their brand recognition and UK growth.
“We’re massively stoked to be extending our partnership with Channel 4 in Airtasker UK,” he said.
“The media partnership strategy has been an incredible catalyst for building Airtasker’s brand in the UK, helping us 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 we’ve seen so far and the huge opportunity we have ahead to make Airtasker a household name in the UK.”
Head of 4 Ventures Vinay Solanki said the partnership with Airtasker continues to grow from strength-to-strength.
“The combination of our mass market reach and Airtasker’s outstanding product in this category is driving exceptionally strong and consistent growth for their UK business, now an established new geographic market,” he said.
“Our media for equity model, allied to the power of Channel 4’s TV advertising provides a unique ability to help entrepreneurs and fast-growing businesses to scale and unlock new opportunities.”
Airtasker’s media partnerships – the business secured $51 million in media deals in 2024 – have been central to its growth strategy on three continents.
In Australia, they included $5m in ARN audio media inventory and $6m in oOh!media inventory in exchange for, in both cases, a 2-year $5m convertible note with a 5.8% coupon rate.
oOh!media has 35,000 sites across Australia including billboards, street furniture, airports, office towers and retail centres. ARN has a network of more than 50 radio stations including KIIS FM, Pure Gold and CADA, as well as digital entertainment platform iHeartRadio.
In the US Airtasker has deals with TelevisaUnivision, iHeartMedia, Sinclair and Mercurius.
In June 2028, Airtasker has the right and obligation to repurchase all equity held by Channel 4 in Airtasker UK at a valuation based on Airtasker UK’s revenue multiplied by Airtasker’s revenue multiple.
Airtasker shares rose 4% today to hit $0.39 cents.
The jobs marketplace went public in March 2021, nine years after Fung cofounded the scale-up, at an IPO price of $0.65 cents a share.
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