Freelancer Limited announced the acquisition of Warrior Forum. Warrior Forum will continue to be operated independently, and will be leveraged to enhance growth in Freelancer's core marketplace. Founded in 1997, Warrior Forum is a marketplace and community for internet marketing professionals. Warrior Forum's user base includes vice presidents, chief marketing and chief growth officers from some of the top internet companies in the world.
Freelancer will continue to operate Warrior Forum independently, maintaining existing forum services for its online community, which will continue to be community moderated. Freelancer will be providing a dedicated team and additional resources. The acquisition provides a complementary community based platform for an important segment of Freelancer's current user base.
The purchase price of the acquisition was $3.2 million. The acquisition was funded by existing cash reserves of the company. The website currently derives revenue from forum access fees, self-serve advertising, and listing fees for marketplace items posted in the forum by registered users and the company does not expect to incur any material increase in costs to operate the website.