An Israel-based freelance marketplace, Fiverr files for IPO on the New York Stock Exchange. It has decided to go public with $34.6 million on its balance sheet. Its net losses increased from $19.3 million in 2017 to $36.1 million in 2018. However, the company informed that it witnessed a 45 percent growth in revenue, from $52.1 million to $75.5 million.
“Our mission is to change how the world works together,”Fiverr’s spokesperson says in the filing. The company started with the simple idea of buying and selling digital services in the same way as people would buy physical goods online. “We aim to design a digital marketplace that is built with a comprehensive SKU-like services catalog and an efficient search, find, and order process that mirrors a typical e-commerce transaction.”
Fiverr was founded in 2010 with a freelancing platform that allows buyers to connect with freelancers in the field of website development, video creation and editing, logo designing, and blog writing. As per the company, it has provided more than 50 million transactions between 5.5 million buyers and 830,000 freelancers.
Since its inception, the company has raised a total of $111 million in funding as per Crunchbase, from investors including Square Peg Capital, Qumra, Capital Bessemer Venture Partners, etc. The company has also closed a few acquisitions deals in the past includingClearVoiceand And Co, a content marketing startup which made software for freelancers.