Blackstone-backed TaskUs, Inc. describes itself as “the outsourcing partner of choice for many of the most disruptive brands in the world.” Its clients include Zoom, Netflix, Uber, Coinbase and Oscar. We provide technology-enabled outsourcing solutions purpose-built for the Digital Economy.
We serve our clients to support their end customers’ urgent needs, navigate an increasingly complex compliance landscape, and handle sensitive tasks, including online content moderation. As of Dec. 31, 2020, we had over 100 clients spanning numerous industry segments within the Digital Economy, including social media, e-commerce, gaming, streaming media, food delivery and ride sharing, HiTech, FinTech and HealthTech. Between 2019 and 2023, the verticals we prioritize are projected to grow at a compound annual growth rate (“CAGR”) of 18%.
Our global omni-channel delivery model is focused on providing our clients three key services – Digital Customer Experience, Content Security and AI Operations. 96% of our revenue in 2020 was delivered from non-voice digital channels or omni-channel services. Non-voice channels allow us to utilize resources efficiently, thereby driving higher profitability. Our Digital Customer Experience offerings serve the needs of the modern consumer, whose habits have drastically changed in the past decade and revolve around the smartphone. Whether it’s an app being used to deliver food instantly, securely buy and sell stocks or stream their favorite shows, it is easy to forget that these pocket luxuries were nascent or nonexistent 10 years ago. Each of these are examples of emerging industries that have become strategic growth drivers for TaskUs. In particular, Zoom, Netflix, Uber, Coinbase and Oscar are representative clients in HiTech, streaming media, food delivery and ride sharing, FinTech and HealthTech verticals, respectively, each of which turned to us when it faced logistical challenges during its rapid growth cycle and none of which represented more than 6% of our revenue in 2019 and 2020.
With the explosive growth of user-generated content and social media, issues of censorship, community moderation and foreign interference in democratic election processes have become some of the most important socio-political issues of our time. Our Content Security offerings include content monitoring and moderation services (“Content Security”), the need for which is increasingly critical to protect the sanctity of the open internet. Our artificial intelligence (“AI”) Operations offerings include providing high quality, human-annotated data sets and algorithm training services to our clients as they navigate significant increases in the prevalence of disruptive AI technology.
Our delivery model is tailored to meet the needs of high-growth companies. Our cloud-based technology infrastructure is designed to enable clients to set up operations quickly and seamlessly and allows clients to outsource many of their core processes at earlier stages of their company lifecycle. We prioritize data science and process automation to achieve technology-driven efficiency gains. We continually analyze massive amounts of data obtained from customer interactions we manage for our clients. We leverage these insights and end customer-driven feedback to drive workflow efficiencies, deliver insights on predictive behaviors that lead to lower customer churn and help our clients innovate their core product offerings and develop new product features.
(Note: TaskUs priced its IPO on June 10, 2021, in line with the terms in its prospectus: 13.2 million shares at $23 – the mid-point of its $22-to-$24 price range – to raise $303.6 million.)
|Industry:||Services - Computer Processing & Data Prep|
|Address||1650 Independence Drive, Suite 100 New Braunfels, Texas 78132|
|Phone Number||888) 400-8275|
|View Prospectus:||TaskUs, Inc.|
|Revenues||$478.05 mil (last 12 months)|
|Net Income||$34.53 mil (last 12 months)|
|Price range||$23.00 - $23.00|
|Est. $ Volume||$303.6 mil|
|Manager / Joint Managers||Goldman Sachs/ J.P. Morgan/ BofA Securities/ Morgan Stanley/ Baird/ RBC Capital Markets/ Wells Fargo Securities/ William Blair|
|CO-Managers||Blackstone/ TD Securities/ BTIG/ Fifth Third Securities/ AmeriVet Securities/ Blaylock Van/ C.L. King & Associates/ Penserra|
|Expected To Trade:||6/11/2021|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|