Freelancer Ltd., the operator of online staffing firm Freelancer.com, acquired Channel 40, an online marketplace that connects freight owners with transport operators. Freelancer.com said the acquisition paved the way for the launch of Freightlancer.com.
The transaction closed Nov. 19; terms were not disclosed.
Channel, with 10 internal employees, counts more than 6,000 freight operators in its marketplace and primarily targets the construction, mining, tunneling, rail and oil & gas industries. In the last 12 months, Channel 40 has shipped more than $4.5 million of freight within Asia Pacific, as well as internationally to the US and Europe.
Mining executive Tom Cavanagh started the company in 2016; he is also the founder and CEO of EMS Group, one of Australia’s largest underground mining and tunneling service providers.
The Freightlancer.com platform will provide freight, shipping and transportation services ranging from complex enterprise haulage to consumer metro deliveries.
“The acquisition of Channel 40 and the launch of Freightlancer.com represent the first productized vertical for Freelancer.com, specializing in end-to-end solutions within a single job area,” said Freelancer.com Chief Executive Matt Barrie. “This builds on our Local Jobs offering and taps into the Freelancer.com API, delivering a global pool of liquidity for the freight logistics industry, around the world.”