TaskUs Surges In IPO

Santa Monica-based outsourcing provider TaskUs, founded by Bryce Maddock and Jaspar Weir, had a successful IPO on Friday, raising $304M in an IPO on the Nasdaq. The company was up around 30% in its IPO in trading on Friday, trading as TASK. The company priced its IPO last night at $23 per share, at the midpoint of its $22.00 to $24.00 initial estimated IPO range. Maddock and Weir founded the company when they were both still living with their parents, but quickly built the company into one with thousands of employees–mostly overseas–providing outsourcing tasks to local startups and other technology companies. Both Maddock and Weir are now worth more than $400M, with backer The Blackstone Group also gaining in the IPO effort.