Hedge fund Spruce Point Capital said it has bet against the shares of a company Facebook uses to screen controversial message chats, claiming the firm has a pattern of painting an overly rosy picture of its business. TaskUs is one of more than 10 outside moderators that Facebook currently contracts to determine whether to remove objectionable content from its site.
When TaskUs went public in June, the company cited a September 2019 market report from Everest Group, which projected 40 to 50% industry growth to $5.8 billion in 2021. In May, however, Everest Group valued the content moderation market at between $4 billion and $5 billion and projected a lower 30 to 40% growth rate, according to data from TaskUs competitor Majorel Group.
