TaskUs co-founders Bryce Maddock (left) and Jaspar WeirTaskUs
For Bryce Maddock and Jaspar Weir, the journey to the Nasdaq started in high school in southern California, continued through an entertainment venture for high-school kids and a failed yogurt business in Argentina, and finally ended up in a Texas town best known for its historic waterpark.
Now in their mid-30s, Maddock and Weir are each worth about $400 million and oversee a business with 27,500 employees worldwide. Thirteen years after they plowed their life savings into a venture called TaskUs, the company held its stock market debut on Friday, and is valued at about $2.8 billion. The stock, trading under ticker symbol “TASK,” jumped 26% to $29.
TaskUs provides customer support services to fast-growing tech companies including Uber, Netflix, Coinbase and Zoom. Employees are spread across eight countries, and TaskUs dedicates hundreds or even thousands of staffers to its top clients so it can handle all their support-related issues. Revenue climbed 33% last year to $478 million, and TaskUs is profitable — a rarity among newly public tech companies — showing annual net income of $34.5 million last year.
Maddock, the CEO, says TaskUs is most commonly serving companies that “realize their growth is going