- Airtasker operates in Australia, New Zealand, Singapore, the UK, Ireland and the US, helping local people and businesses meet with service providers through its platform.
- Airtasker caters to the growing gig economy and the aspirations of millennials and others who wish to avoid the traditional 9 to 5 working model.
- The company went public when it listed on the ASX in March 2021.
Airtasker (ASX: ART) is an Australian outsourcing company that operates an online and mobile marketplace. The company was founded in 2012 and is headquartered in Sydney. Its Initial Public Offering on the Australian Stock Exchange (ASX) took place in March 2021.
To buy shares in Airtasker from Australia, this is what to do.
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Airtasker is an online marketplace that connects people and businesses who need work done with those who want to work. Those who wish to outsource everyday tasks can indicate their budget and Airtasker community members bid to complete that task.
Airtasker is also available in New Zealand, Singapore, Ireland, the United Kingdom and the United States. Airtasker only allows local outsourcing within your country of residence.
It services a broad customer market. Users can order any services from accounting to window cleaning and almost everything in between, such as various other professional services as well as jobs in trades, tutoring and handiwork.
The most popular categories in the period March 2020 to Feb 2021 were trades (roof tiling, car servicing, glass installation, builders), market research, marketing copywriting and editing, handyman, car washing and cleaning, sewing and clothing repairs and Computer & IT (hardware, software and network support).
Airtasker subsidiaries include Zaarly Inc. and Homesales Services, among others.
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Compare share brokers available in Australia with Finty.
Step 1: Choose a broker
When you buy shares online, you do it through an intermediary called a broker. There are lots of online brokers available, offering various options. You need one with access to the Australian stock exchange.
Here are some key features to look for when choosing an online broker.
The advent of online share trading has seen brokerage costs plunge. If you shop around, you’ll be able to find online platforms offering very competitive brokerage rates. Be careful to weigh up brokerage costs against other services the online trader may or may not offer.
Easy-to-use trading platform
Trading in shares needn’t be complicated, so keep an eye out for a trading platform that is straightforward to use.
Research and reporting
Look for a platform that has a solid research and reporting section that can give you important information about Airtasker, including company overview, price history, recommendations, and price forecasts from analysts.
Step 2: Funding your account
Next, it's time to add money to your account so you can make trades. Keep in mind the minimum transaction for any initial investment, which varies between brokers. You will need to transfer funds from your bank account and it may take around three days for the funds to clear.
Step 3: Decide how much you want to invest
Deciding how much you want to risk on your investments is a pretty basic start, but it's more important than you think. Work out a budget for buying shares and only spend what you can afford to lose.
Step 4: Choose between buying shares or an ETF
Another option for more cautious investors is an ETF or Exchange Traded Fund, which allows you to invest in a market as a whole or a specific commodity, rather than an individual company like Airtasker. This product tracks an entire market segment, meaning it's less likely to experience sudden rises or falls, but it also means it's harder to make the kind of big gains you can with shares.
Step 5: Decide your order type
So, you’ve decided to buy Airtasker shares. These are some of the main order types available to execute your trade.
These are orders to buy shares at the current market price. In fast-moving markets, these prices can change while you're making the trade. Let's say you place an order to buy Airtasker shares at $1.15 You place an order, but by the time it executes the share price has dropped to $1.12. You will get your shares at the lower price. The same situation applies if the share price goes up while your order is being executed.
With a buy limit order, your trade will only execute when the share price reaches the price, or lower, that you nominate. Let’s say you decide you only want to buy Airtasker shares at $1.14 or lower. Once the price drops to $1.14, your limit order will kick in.
A stop-limit order is an order to buy or sell a stock, combining the features of a stop order and a limit order. For example, you might place a stop limit order to buy 100 shares once the price reaches $1.15 (the stop) with a limit of $1.20. Or, you might place a stop limit order to sell 100 shares if the price drops to $1.12 (the stop) but with a limit of $1.05.
This helps you reduce risk. With a stop loss order, you nominate a price at which you decide to sell your shares. If the share price goes into free-fall, for example, the stop loss means you sell out before your shareholding suffers too much damage.
Step 6: Place your order
Once you've made all your choices, it's time to place your order. Open up your trading platform, type in the Airtasker share code (ASX: ART) and execute the order with the features you've chosen. This is usually as easy as clicking a button.
Step 7: Monitor your investment
Regardless of whether you are buying shares to benefit from price fluctuations or to hold them as long-term investments, you must keep track of both share price movements and the company’s performance.
Track Airtasker’s performance
Keep track of how Airtasker competes with its mostly global competitors in both Australia and its international markets. At present Airtasker only allows local outsourcing in each country in which it operates. This is a key disadvantage considering that its largest competitors are global outsourcing platforms that enable both users and service providers open access to global markets and hence wider and bigger talent pools and business opportunities.
At the same time, also watch for its business performance, financial fundamentals and its share price movements.
Airtasker's local competitors include Oneflare, which operates in the home improvements and services markets. Their most formidable competitors are global online outsourcing platforms such as Fiverr (NYSE: FVRR), Upwork (NASDAQ: UPWK), DesignCrowd, Gumtree, 99designs, Freelancer and Guru.
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