Airtasker and oOh strike deal

Airtasker has announced a $6m media partnership with oOh!media to boost brand awareness across Australia, gaining access to over 35,000 outdoor advertising sites.

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Airtasker has announced a $6m media partnership with oOh!media to boost brand awareness across Australia, gaining access to over 35,000 outdoor advertising sites.

The deal involves a $5m convertible note with a 5.8% coupon rate, which Airtasker can convert to shares or repay in cash after two years.

Airtasker reported positive free cash flow and a strong cash position in the recent quarter, with CEO Tim Fung expressing excitement about the partnership's potential impact and innovation opportunities.

This collaboration follows Airtasker's successful UK media partnership, which resulted in significant growth in posted tasks.

ASX Code: ART