Japan’s crowdsourcing platform provider CrowdWorks files for IPO

CrowdWorks founder and CEO Koichiro Yoshida

The Tokyo Stock Exchange (TSE) announced today that it has approved CrowdWorks, the Japanese company that provides crowdsourcing platform under the same name, for an IPO on the TSE Mothers Market. The company will be listed on 12 December.

Since its launch in 2011, CrowdWorks has been providing a crowdsourcing plaform for engineers, writers, designers, and other freelance workers, as well as running collaborated businesses with established companies like Yahoo Japan and Japanese education company Benesse Corporation.

The company saw 51 million yen ($446,000) in revenue with an ordinary loss of 158 million yen ($1.4 million) and a net loss of 159 million yen ($1.4 million), so they have been showing a loss since the launch.

In our recent interview with CrowdWorks founder and CEO Koichiro Yoshida, he said that the annual transaction volume of crowdsourced jobs dealt with by the platform will reach over 2 billion yen ($17.4 million) this year.

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