TFS#258 - Tim Fung how to Build a Huge Marketplace, Scale Globally & Turn a $25M Burn Profitable

Tim Fung is the founder and CEO of Airtasker, Australia's leading marketplace for local services. Since launching the company in 2012, he has grown it from a simple startup idea into a publicly listed global platform connecting millions of people with work opportunities. Tim is also a startup investor, entrepreneur, and co-founder of Tank Stream Labs.Connect with Tim Fung!https://www.airtasker.comhttps://www.instagram.com/airtaskerCHAPTERS:0:00 – Introduction1:18 – Arriving at the Airtasker office and meeting Tim Fung1:52 – How long Airtasker has been in its current office2:35 – The story behind Tank Stream Labs and Airtasker’s office setup2:51 – How many people work at Airtasker today3:43 – Tim talks about the tech wreck of 20224:14 – Why Airtasker decided to go public in 20215:28 – How COVID impacted Airtasker’s revenue6:48 – Why Airtasker chose the UK as its first global market8:05 – How Airtasker became profitable in just nine months11:02 – Tim talks about aligning Airtasker’s incentives with taskers’ success12:48 – How Airtasker balances marketing for customers vs. taskers14:33 – Why Airtasker keeps most of its marketing in-house15:46 – Tim talks about brand marketing vs. performance (conversion) marketing16:20 – The TV advertising deal that changed Airtasker’s trajectory17:44 – Tim talks about why measurable metrics can be misleading18:56 – How Tim handles uncertainty when investing heavily in brand marketing21:06 – How Tim manages the stress of leading 200+ employees22:14 – What excites Tim more: scaling the product or building new things23:36 – Tim’s recent life discoveries24:36 – Tim’s goals and focus for the next six months25:16 – Connect with Tim25:37 – Outro