Media Capital Partnership Acceleres U.S. Expansion
Redwood City, December 5, 2024 – 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 to the economy and projections indicating continued double-digit growth, Airtasker’s platform is perfectly positioned to meet current demand and capitalize on future expansion.
“Airtasker’s success in Australia and its expansion into the UK and U.S. highlight its potential as a global leader in the gig economy. At MMC, we’re proud to partner with Airtasker on this incredible journey. Under Tim Fung’s leadership, the company is redefining how people connect with local service providers, and we’re excited to support their growth by leveraging our media capital model to amplify their impact.” 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 provides startups and media partners with the ability to fight for market share in the digital media landscape. The infusion of media resources will allow Airtasker Limited to scale its reach, leveraging MMC’s network of media assets.
“We’re thrilled to be working alongside the awesome team at MMC to create new job opportunities for communities across the U.S.,” said Airtasker Founder, Tim Fung. “MMC’s’ expansive portfolio of media partners and their impressive record of investment in media for capital to scale world-changing technology in global markets will be incredibly valuable. We can’t wait to get started!”
The media capital model is a fast-growing alternative source of capital that has already fueled the success of more than 1000+ startups globally, including successful brands like 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