Piyush Puri on Media-for-Equity
Author(s): Scott Douglas Jacobsen
Publication (Outlet/Website): The Good Men Project
Publication Date (yyyy/mm/dd): 2025/02/20
Piyush Puri is a Founding Partner at Mercurius Media Capital (MMC) and a key member of its Executive Leadership and Investment Committee. MMC collaborates with U.S. media companies to accelerate startup growth through the innovative use of media capital. Additionally, Piyush serves as the Executive Vice President of BCCL Worldwide Inc. (BWI), the strategic investment arm of The Times Group, India’s largest multimedia conglomerate. He highlights the thriving American gig economy, driven by flexible work demands, digital platforms, and pandemic-induced remote work trends. Piyush explains how Airtasker, a platform leveraging a media-for-equity model—trading equity for advertising with partners—has achieved expansion in the competitive U.S. market without significant upfront marketing costs. MMC invested $6 million in Airtasker, recognizing its successful track record in Australia and alignment with growing on-demand consumer needs. MMC’s extensive media partnerships, including Sinclair, Televisa, and Willow, provide startups with broad market reach and credibility, rapidly driving job creation and marketplace growth. This approach draws inspiration from established models like the Times Group’s Brand Capital, delivering a scalable and cost-effective strategy for entering new markets.
Scott Douglas Jacobsen: Let’s start with the obvious points or macroeconomic factors of the gig economy. Why is the American gig economy becoming so large and going to continue to grow significantly in the 2020s?
The gig economy in America is exploding, and it’s easy to see why. People want flexibility—especially the younger generation. A rigid 9-to-5 doesn’t fit the lifestyle many are after anymore. With apps and platforms making it super simple to find work or hire someone, gig jobs are now more accessible than ever.
The pandemic was a game-changer, too. Remote work became the norm, and suddenly, even high-skilled roles—like consulting and tech projects—started leaning into the gig model. On top of that, with living costs rising, side hustles have become essential for a lot of people.
For businesses, gig workers are a win. They help keep costs down and allow companies to scale up or down as needed. Consumers are also loving the convenience—whether it’s same-day delivery or hiring someone to assemble furniture.
Investors clearly see the potential. Platforms like Airtasker and Uber are getting plenty of funding, ensuring the gig economy keeps evolving. The way things are going, this isn’t just a passing trend. It’s reshaping work entirely, giving people more choice and businesses more agility in an ever-changing world.
Jacobsen: What is the media-for-equity model for Airtasker’s expansion in the gig economy of the United States?
The media-for-equity model is a strategic approach that Airtasker is using to expand its presence in the U.S. gig economy. In this model, Airtasker offers equity in its business to media companies in exchange for advertising and marketing services. This enables the company to secure significant media exposure without requiring upfront cash investments for large-scale campaigns.
This approach is particularly valuable in a competitive market like the U.S., where established players such as TaskRabbit and Thumbtack already have strong footholds. The media exposure helps Airtasker quickly build brand awareness and establish credibility, which is essential for attracting both users and gig workers. Partnerships with reputable media outlets also lend trust to the brand, an important factor when entering new markets.
The model is also capital-efficient. By conserving cash that would otherwise be spent on marketing, Airtasker can allocate its financial resources to other priorities, such as enhancing its platform or scaling operations. Moreover, the media campaigns can be tailored to specific regional audiences within the U.S., ensuring Airtasker resonates with diverse consumer bases.
Overall, the media-for-equity model provides a practical way for Airtasker to accelerate its growth while balancing costs and maximizing market impact.
Jacobsen: What factors made Airtasker Limited attractive to Mercurius Media Capital to invest $6 million in it?
Airtasker Limited secured a $6 million investment from Mercurius Media Capital due to its strong position in the rapidly growing gig economy and its proven success in Australia. The company’s scalable platform connects task posters with skilled workers, creating a self-reinforcing network effect that strengthens user retention and engagement. This demonstrated Airtasker’s ability to build a thriving marketplace with clear growth potential.
Airtasker’s innovative media-for-equity strategy for its U.S. expansion further enhanced its appeal. By exchanging equity for media exposure, the company efficiently built brand awareness while conserving capital for scaling operations. This approach aligned well with MMC’s focus on media-driven growth strategies. Additionally, Airtasker’s alignment with consumer trends, such as the increasing demand for convenience and on-demand services, positioned the platform to thrive in a competitive market.
With a strong leadership team, a proven track record of execution, and a clear strategy for international expansion, Airtasker presented a compelling opportunity for MMC to back a high-growth, consumer-focused business poised to scale effectively in the U.S. gig economy.
Jacobsen: Can you share any success stories or case studies from MMC’s previous investments that demonstrate the effectiveness of the media capital model?
As a relatively new fund established just a year ago, Mercurius Media Capital has made five strategic investments this year. While it’s too early to share case studies specific to MMC, the media capital model we employ has been tried and tested over two decades through the Times Group’s Brand Capital model, where it has consistently driven impactful results.
Take Airtasker, for instance. The company is a prime example of how the media-for-equity approach can propel growth. Airtasker leveraged the model to become successful in Australia, using targeted media campaigns to build significant brand awareness and establish itself as a leader in the gig economy. This success allowed the company to raise over $50 million to fuel its expansion into Europe and the U.S.
At MMC, we are building on this proven legacy, working closely with startups to deploy the media capital model as a cornerstone of their growth strategy. While our current campaigns are in their early stages, we are confident in the potential for similar success stories, backed by the same fundamentals that have driven results in the past.
Jacobsen: How do more extensive networks through MMC help startups scale up in terms of market reach and brand building?
Mercurius Media Capital’s extensive networks, including partnerships with Sinclair, Televisa, and Willow, are crucial in helping startups scale their market reach and build impactful brands. These partnerships provide startups with access to premium advertising channels across TV, digital platforms, and social media. This level of exposure enables startups to launch campaigns that reach wide audiences without high upfront costs, establishing a strong brand presence quickly and efficiently.
Startups often lack the expertise or resources to execute large-scale marketing efforts. MMC bridges this gap by leveraging its network of marketing professionals and advisors, along with the media assets of partners like Sinclair, Televisa, and Willow, to design targeted, data-driven campaigns. These campaigns resonate with specific customer demographics, ensuring startups connect with the right audiences. This strategic approach maximizes returns on marketing efforts while driving customer acquisition at scale.
Additionally, MMC’s partnerships lend credibility to startups, making them more appealing to customers and potential collaborators. For companies entering international markets, MMC’s global networks – bolstered by partners like Televisa for Latin America and Sinclair for the U.S. – act as a launchpad for recognition and market penetration. This combination of visibility, trust, and strategic guidance empowers startups to scale rapidly and sustainably.
Jacobsen: How does Airtasker plan to leverage MMC’s $50 million in media capital to create new job opportunities?
Airtasker plans to utilize Mercurius Media Capital’s $6 million investment to significantly expand its presence in the U.S. market. By leveraging MMC’s extensive media partnerships with Sinclair, Televisa, and Willow, Airtasker aims to launch wide-reaching advertising campaigns across television, digital, and social media channels. These campaigns will increase awareness of Airtasker’s marketplace, attracting both customers seeking services and skilled workers looking for flexible employment opportunities.
Through customized media campaigns, Airtasker intends to tap into diverse regional markets across the U.S., connecting local communities with on-demand work opportunities. As the platform grows, the increased visibility will encourage more people to join as Taskers, expanding the types of services offered. This will not only provide individuals with supplemental income but also create full-time opportunities for those seeking greater flexibility in their work lives.
Additionally, Airtasker’s focus on hyper-localized advertising will help identify and address unique needs in various communities, ensuring a steady flow of jobs tailored to local demands. By driving both consumer demand and worker engagement, Airtasker’s partnership with MMC is positioned to play a transformative role in job creation within the evolving gig economy.
Jacobsen: Thank you for the opportunity and your time, Piyush.
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