Narayan AmmachchiTaskUs has finally made bare of its plan to go public, with the Santa Monica, California-based company filing forms with US market regulator, SEC, as part of listing its shares on Nasdaq.
The confirmation comes months after rumors emerged that the BPO provider had filed a confidential application with SEC.
However, it is still unclear as to how many shares it will float and how much money it would raise through IPO. All that we know is that it will be traded under the symbol TASK.
TaskUs provides a range of back-office and customer care services. Its clients include the likes of Uber Technologies, Tinder, BetterDoctor, and Balsam Brands.
The BPO provider, which expanded operations to the Colombian city of Cali barely two months ago, reportedly made US$478 million in revenue last year. It has employed more than 23,000 people across 18 locations, including Mexico and India, but a large majority of its staff are based in the Philippines.
TaskUs was a small player in the BPO market until 2018 when the US investment firm Blackstone purchased a stake in it for around US$250 million. The customer services provider had previously raised US$15 million from Philippine private equity firm Navegar.
Now, it is Blackstone that is taking TaskUs to the stock market. Reports say Goldman Sachs & Co. and J.P. Morgan are advising the company on its IPO.
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