Case study Marketplace

hipages

hipages is a two-sided trades marketplace. Red Valkyrie turned a loss-making paid search program into a growth engine, then pioneered trade registration marketing from scratch.

$60M Company revenue 4.5x in 5 years
$214M Company valuation ASX listing 2020
30x increase Trade registrations In 3.5 years

The situation

Consumer paid search had reached a ceiling, scaling bids increased clicks and spend without a corresponding increase in jobs. Furthermore, the channel was unprofitable.

Trade (tradie) registration marketing via any performance channel did not exist.

What we did

01

Fixed paid search structure

Separated high-intent queries from low-intent waste. Turned a loss-making program into a profitable growth channel. Paid search grew 4x in 3.5 years.

02

Pioneered trade registration marketing

Built tradie acquisition from scratch. Grew from 30 registrations/month to >1,000+/month (a 30x increase in 3.5 years).

03

Scaled paid social for tradie acquisition

Scaled paid social as a performance channel delivering profitable ROAS for tradie acquisition.

04

Grew organic visibility 2.5x+

Consultation on directory and SEO buildout for long-tail queries. Organic traffic grew 2.5x+ in 3.5 years.

05

Worked alongside internal team

Reporting, prioritisation, and strategic input to align all acquisition channels around measurable outcomes.

What changed

  • Company revenue grew 4.5x in 5 years ($13M to $60M)
  • Company valuation grew from $13M to $214M (ASX listing in 2020)
  • Paid search grew 4x in 3.5 years (from a loss-making starting point)
  • Trade registrations from direct marketing grew 30x in 3.5 years (30/month to >1,000+/month)
  • Scaled paid social as a performance channel delivering profitable ROAS for tradie acquisition
  • Organic traffic grew 2.5x+ in 3.5 years

Why it worked

"The biggest lever was not more spend; it was fixing what the spend was pointed at. Once search structure matched intent and trade marketing existed as a real function, the business could scale."

The biggest lever was not more spend; it was fixing what the spend was pointed at. Once search structure matched intent and trade marketing existed as a real function, the business could scale.

Turning a seven-figure loss into a growth engine came from separating high-intent queries, cutting waste, and building proper measurement. Trade registration marketing went from a side project to the company's primary supply-side acquisition channel.

If your search account is losing money, the fix is structure

Book a call. We will tell you what we would clean up first.