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TaskUs
American outsourcing company From Wikipedia, the free encyclopedia
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TaskUs is an outsourcing company that handles content moderation, customer experience, artificial intelligence, operations and risk & response services for companies around the world,[3] including Facebook and DoorDash.
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History
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Perspective
TaskUs was founded by Bryce Maddock and Jaspar Weir, best friends since high school,[4] in 2008 in Santa Monica, California.[5] The two had co-founded other companies before starting TaskUs.[6]
The company was originally conceived as a task-based virtual assistant platform for start-ups,[7] based in the Philippines. Conversations with potential clients indicated a need for more comprehensive support and TaskUs modified their model accordingly.[8] Early funding included $15 million from Navegar, a private equity fund in the Philippines, and a $14 million loan from Bridge Bank. The Blackstone Group invested $250 million in 2018.[9][10]
In 2017, Entrepreneur Magazine listed TaskUs as #3 on their Entrepreneur 360 list.[11]
The company had its initial public offering in June 2021; it is traded on NASDAQ as TASK. Approximately 30% of the company's revenue is from providing content moderation for Facebook, and about 12% is from DoorDash.[12][13][14][15] TaskUs was originally structured as a limited liability company. This meant that it distributed phantom stock to employees before its 2021 IPO.[16]
In 2022, a class-action lawsuit was brought against TaskUs for a data breach they did not bring to the attention of customers.[17] That same year, the company was also accused of improper revenue disclosure and lack of clarity regarding its work with Facebook.[18] Several components of the claim were dismissed by a New York federal judge.[19] TaskUs moved to dismiss this claim against them in February 2023.[20]
That same year, TaskUs made its first acquisition after going public by buying heloo, a Croatia-based digital customer service provider.[3] Also that year, TaskUs was named North America Company of the Year by Frost & Sullivan.[21]
In 2023, TaskUs introduced an AI platform, TaskGPT.[22]
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Operations
TaskUs moved its headquarters to San Antonio, Texas in 2017, then to New Braunfels, Texas in 2018.[23] Its revenue for the first quarter of 2024 was $227.5 million.[24]
The company employs a total of 47,000 employees in 13 locations;[22] the company's principal operations are in the Philippines.[25][26][27][28]
Approximately 30% of the company's revenue is from providing content moderation for Facebook, and about 12% is from DoorDash.[12][13][14][15]
Other customers include Coinbase (beginning in 2017), Netflix, Zoom (beginning in 2020), Whisper, Tinder, AutoDesk, and Uber (beginning in 2013).[9][29]
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References
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