Founded in 2010, Fiverr is one of the biggest freelance marketplaces that took traditional marketplaces head-on with a twist in the gig economy scenario by enabling service providers to offer their skill like a product for instant purchase. The model has gained a lot of popularity in recent years and has enabled freelancers worldwide to make a good career. Some have made millions too.
Fiverr has facilitated more than 50 million transactions between 5.5 million buyers and 830,000 freelancers since 2010.
But according to Tech Crunch, the company is losing money. Fiverr has filed to go public on the New York Stock Exchange. It follows footprints of Upwork, it filed for IPO in order to get Net $100 million last year.
Fiverr net losses grew from $19.3 million in 2017 to $36.1 million last year in 2018. The revenue grew by nearly 45 percent, from $52.1 million to $75.5 million in a year.
“Our mission is to change how the world works together,”
“We started with the simple idea that people should be able to buy and sell digital services in the same fashion as physical goods on an e-commerce platform. On that basis, we set out 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.” Says Fiverr in the filing.