BPOs in the Philippines

From an office atop a vulcanizing shop to futuristic spaces: TaskUs’ explosive growth

Ralf Rivas
From an office atop a vulcanizing shop to futuristic spaces: TaskUs’ explosive growth

OUTSOURCING. TaskUs headquarters in Ortigas.

TaskUs now has 45,300 employees in 13 countries. Ten of its offices are in the Philippines.

MANILA, Philippines – Over a decade ago, high school friends Bryce Maddock and Jaspar Weir were renting out a one-room office space just above a vulcanizing shop in Cavite, as part of their virtual assistant venture.

From being twentysomething entrepreneurs with little experience, the two are now managing a publicly listed company with 45,300 employees and boasts one of the most visually stunning office spaces in the Philippines.

Maddock and Weir’s TaskUs has new headquarters in Ortigas called the “Phoenix,” an office space with such a futuristic vibe you’d think the Avengers or Star Trek crew would pop out any moment.

TaskUs employees enjoy various facilities, including a daycare, sleeping pods, gaming spaces, a gym, and even massage chairs.

“I pinch myself sometimes when I see a new site like this,” Weir told reporters on his first visit to the Phoenix office.

TaskUs’ site in Batangas also has visually stunning interiors.

Dubbed as “Atlantis,” the space features images of beaches, coves, and marine life.

Growth story

How did TaskUs manage to grow from a tiny office space?

For TaskUs president Weir, it was the right mix of clients and business environment.

TaskUs got its first enterprise client in 2009. It was also during this time when tech companies and startups were booming. (WATCH: Rappler Talk: TaskUs CEO Bryce Maddock)

“We didn’t even know what a BPO (business process outsourcing) was at that time, and all these companies were servicing AT&T and Verizon, telco, cable accounts. They don’t really care about their customer experiences,” Weir said.

TaskUs co-founder Jaspar Weir.

The funding environment was growing too, as venture capitalists recovered after the so-called dot-com bubble in the late 1990s.

“We looked around and we saw startups growing faster than ever and the start of the rebound of venture funding in 2010 or so, so we made a strategic focus to be on high growth, tech disruptors. The way that we want to disrupt our industries, our clients were disrupting their own industries,” Weir said.

TaskUs currently has 10 offices in the Philippines and a total of 26 in 13 countries, including the United States, India, Europe, and Malaysia.

TaskUs’ second quarter revenues reached $246.5 million, an increase of 36.9% from 2021. In the same period, the company generated 51% of its revenues in the Philippines. For the entire 2021, revenues reached $760 million, up by 59%.

Pandemic and capital

With the pandemic eroding personal and corporate earnings, cost cutting measures have been on the rise across the globe.

High-growth tech companies and startups also don’t have the luxury of getting venture capital these days, according to Weir.

“A lot of our clients, high growth businesses across industries, are looking to us and are saying they have to cut costs, and TaskUs is part of that solution to do that,” he said.

Weir said that the BPO sector in the Philippines and India are most likely to gain from these trends.

“Once you outsource, you’re not going back, it generally expands. Work from home too,” Weir said. –Rappler.com

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Ralf Rivas

A sociologist by heart, a journalist by profession. Ralf is Rappler's business reporter, covering macroeconomy, government finance, companies, and agriculture.