TaskUs IPO: A Big Play on the Customer Service Revolution

By Associate EditorMoney Morning  


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Dear Red Alert Reader,

TaskUs stock could be a big play on a rising tech industry. People are using technology to essentially cut their workforces in half.

And a TaskUs IPO couldn't come at a more perfect time.

The offering is on June 10. But you should put this company on your radar sooner than later…

This all has to do with artificial intelligence (AI) making our working lives easier. Where it doesn't make work easier, it eliminates the job altogether.

We just saw a pandemic reveal how certain paid work can be carried out by people scattered about the world. And, in cases where people were not available, AI could do the job.

For that reason, big corporations will probably love this stock.

TaskUs has a hand in both the people and the technology ends of customer experience. And as a result, it will save many Big Tech firms lots of money.

Here's why TaskUs stock is a potential buy as we await the IPO…

What Is TaskUs?

TaskUs outsources digital business services to high-growth technology companies. It passes marketing, sales, and customer service jobs around the world.

If a high-growth tech business wants to provide around-the-clock customer support, it calls TaskUs. If it wants AI-powered virtual assistants to help customers over the phone, it calls TaskUs.

This 13-year-old company already has about "27,500 employees across eighteen locations in the United States, the Philippines, India, Mexico, Taiwan, Ireland, and Colombia."

This is a fast-growing outsourcing company. At the end of 2020, TaskUs reported 100 clients spanning several industries – e-commerce, streaming media, food delivery, finance, and health.

The "tech" emphasis for this company will play a key role in its future success, as it has in the last year…

It's Just the Beginning for TaskUs

According to its prospectus, TaskUs crossed the Rubicon to profitability as recently as 2018 and hasn't looked back. It went from an $871,000 loss to $33.9 million profit between 2018 and 2019.

Profits increased to $34.5 million the following year, even during the pandemic. That was on top of $528 million in sales.

TaskUs makes money from acquiring new clients and recurring payments from current ones. Ninety-nine percent of the company's 2020 revenue was from recurring contracts. Of course, that's not to discount the 36 new clients that TaskUs added in 2020.

REVEALED: The complete list of best (and worst) stocks for 2021. View it here.

The company reports that clients who have stayed since 2017 grew by 448% through 2020. That was based on 29 TaskUs clients with revenue of $500,000 or more in the previous years.

And that likely will not be the first yearly rise we see from TaskUs. This company is scaling quickly – which is essentially the services it offers – in a trend that has only begun to rev its engine.

Here is why TaskUs stock is a buy whenever you can get your hands on some.

Should You Buy TaskUs Stock?

How much do you hate talking to an artificial intelligence bot when calling customer service?

Well, Big Tech companies sure don't care. And even if they did, they probably wouldn't be able to meet your need as quickly as you'd like. So, instead of doubling down on man-power, the consensus among the technocrats is to make robots smart enough that you can't tell the difference.

Sure, we're still a long way before that happens. But we're getting there.

According to McKinsey, 45% of "paid activities" have the potential for automation with technology that exists today.

Additionally, 74% of organizations have said they were "actively looking" for new ways to automate their operation.

By 2023, digital process automation will have grown from a $6.76 billion market to $12.61 billion – so nearly double in two years. We should expect significantly more over the next decade.

TaskUs is on pace to rock this trend as customer service technology gets smarter and it hones in on high-revenue tech companies. These, of course, will be the first to demand the company's services.

Increased demand for automation could also prompt more innovative solutions from TaskUs, which would send this company rocketing even further.

TaskUs expects to sell 13.2 million shares in the range of $22 to $24, coming to around $300 million. The expected valuation is $2.5 billion. It will trade under the ticker symbol TASK.

If you can get shares of TaskUs in that $22-$24 range, it's a buy.

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So he's showing you which stocks you should consider buying NOW and which to sell ASAP.

With his help, you'll know how to be in the best position possible to potentially make a fortune next year.

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TaskUs IPO: A Big Play on the Customer Service Revolution

TaskUs stock could be a big play on a rising tech industry. People are using technology to essentially cut their workforces in half.

And a TaskUs IPO couldn't come at a more perfect time.

The offering is on June 10. But you should put this company on your radar sooner than later...

This all has to do with artificial intelligence (AI) making our working lives easier. Where it doesn't make work easier, it eliminates the job altogether.

We just saw a pandemic reveal how certain paid work can be carried out by people scattered about the world. And, in cases where people were not available, AI could do the job.

For that reason, big corporations will probably love this stock.

TaskUs has a hand in both the people and the technology ends of customer experience. And as a result, it will save many Big Tech firms lots of money.

Here's why TaskUs stock is a potential buy as we await the IPO...

What Is TaskUs?

TaskUs outsources digital business services to high-growth technology companies. It passes marketing, sales, and customer service jobs around the world.

If a high-growth tech business wants to provide around-the-clock customer support, it calls TaskUs. If it wants AI-powered virtual assistants to help customers over the phone, it calls TaskUs.

This 13-year-old company already has about "27,500 employees across eighteen locations in the United States, the Philippines, India, Mexico, Taiwan, Ireland, and Colombia."

This is a fast-growing outsourcing company. At the end of 2020, TaskUs reported 100 clients spanning several industries - e-commerce, streaming media, food delivery, finance, and health.

The "tech" emphasis for this company will play a key role in its future success, as it has in the last year...

It's Just the Beginning for TaskUs

According to its prospectus, TaskUs crossed the Rubicon to profitability as recently as 2018 and hasn't looked back. It went from an $871,000 loss to $33.9 million profit between 2018 and 2019.

Profits increased to $34.5 million the following year, even during the pandemic. That was on top of $528 million in sales.

TaskUs makes money from acquiring new clients and recurring payments from current ones. Ninety-nine percent of the company's 2020 revenue was from recurring contracts. Of course, that's not to discount the 36 new clients that TaskUs added in 2020.

The company reports that clients who have stayed since 2017 grew by 448% through 2020. That was based on 29 TaskUs clients with revenue of $500,000 or more in the previous years.

And that likely will not be the first yearly rise we see from TaskUs. This company is scaling quickly - which is essentially the services it offers - in a trend that has only begun to rev its engine.

Here is why TaskUs stock is a buy whenever you can get your hands on some.

Should You Buy TaskUs Stock?

How much do you hate talking to an artificial intelligence bot when calling customer service?

BEST STOCKS FOR 2021

Wall Street insider Shah Gilani reveals the names of 5 obscure stocks that could dominate 2021 in this free video.


BEST STOCKS FOR 2021

Wall Street insider Shah Gilani reveals the names of 5 obscure stocks that could dominate 2021 in this free video.


Well, Big Tech companies sure don't care. And even if they did, they probably wouldn't be able to meet your need as quickly as you'd like. So, instead of doubling down on man-power, the consensus among the technocrats is to make robots smart enough that you can't tell the difference.

Sure, we're still a long way before that happens. But we're getting there.

According to McKinsey, 45% of "paid activities" have the potential for automation with technology that exists today.

Additionally, 74% of organizations have said they were "actively looking" for new ways to automate their operation.

By 2023, digital process automation will have grown from a $6.76 billion market to $12.61 billion - so nearly double in two years. We should expect significantly more over the next decade.

TaskUs is on pace to rock this trend as customer service technology gets smarter and it hones in on high-revenue tech companies. These, of course, will be the first to demand the company's services.

Increased demand for automation could also prompt more innovative solutions from TaskUs, which would send this company rocketing even further.

TaskUs expects to sell 13.2 million shares in the range of $22 to $24, coming to around $300 million. The expected valuation is $2.5 billion. It will trade under the ticker symbol TASK.

If you can get shares of TaskUs in that $22-$24 range, it's a buy.

Get the Best Stocks in America - No Sign-Up Required

Our chief investment strategist knows that 2021 could be the start of a generational stock buying opportunity.

So he's showing you which stocks you should consider buying NOW and which to sell ASAP.

With his help, you'll know how to be in the best position possible to potentially make a fortune next year.

And you're getting it all FREE.

Click here to watch now.

Follow Money Morning on Facebook and Twitter.