TaskUs, which provides outsourced virtual business services to enterprises and SMBs, announced terms for its IPO on Wednesday.
The New Braunfels, TX-based company plans to raise $304 million by offering 13.2 million shares (58% secondary) at a price range of $22 to $24. At the midpoint of the proposed range, TaskUs would command a fully diluted market value of $2.5 billion.
TaskUs is a digital business services outsourcer, focused on serving high-growth technology companies to represent, protect, and grow their brands. The company offers digital customer experience services, content security services, and artificial intelligence operations. As of December 31, 2020, TaskUs 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.
TaskUs was founded in 2008 and booked $528 million in sales for the 12 months ended March 31, 2021. It plans to list on the Nasdaq under the symbol TASK. Goldman Sachs, J.P. Morgan, BofA Securities, Morgan Stanley, Baird, RBC Capital Markets, Wells Fargo Securities, and William Blair are the joint bookrunners on the deal. It is expected to price during the week of June 7, 2021.
