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Figure Eight acquired in deal valued up to $300 million

March 13 2019

Figure Eight, a crowdsourcing platform provider in the online staffing space, agreed to be acquired by Sydney, Australia-based Appen (ASX:APX).

Figure Eight, which operated as CrowdFlower prior to rebranding last year, announced the deal this week in a blog post.

Appen will pay $175 million up front for Figure Eight and an additional payment of up to $125 million in 2020 based on 2019 performance.

Appen has offices worldwide and a global crowd of more than 1 million contractors working in more than 130 countries. Its global customer base includes eight of the world’s 10 largest technology companies.

Figure Eight will operate largely independently as a division of Appen through the end of 2019.

“We now have the best of both worlds: our highly efficient cloud management platform and scalable, skillful multilingual crowd, combined with Figure Eight’s innovative customer facing SaaS platform with ML-assisted annotation,” said Appen CEO Mark Brayan.

Founded in 2007, Figure Eight is headquartered in San Francisco.

Crowdsourcing companies generated $780 million worldwide in 2017, according to Staffing Industry Analysts’ report, The Gig Economy and Human Cloud Landscape: 2018 Update.

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