The undertaking of Fiverr is to change how the world works together. It has started with the simple idea that people should be able to buy and sell digital services. It must happen in the same fashion as physical goods on an e-commerce platform. On that basis. So, it sets out to design a digital Fiverr marketplace that is built with an inclusive stock keeping unit (SKU). Which have services catalog and an efficient search, find and order process.
Reduce Friction for Buyers & Sellers
They believe their model reduces friction and uncertainties for both buyers and sellers. At the foundation of this platform lies an expansive catalog with over 200 categories of productized service listings. These listings have coined as Gigs. Using either their search or navigation tools, buyers can easily find and purchase productized services. They can find and purchase with prices ranging from $5 to thousands of dollars.
Fivrr Revolutionary Decision to Go Public
With the revolutionary thought that Fivrr has quickly become apparent to the founders. That their platform has much bigger potential than just allowing jobs to get done. But an exclusive convention for people to offer up all kinds of professional skills on demand, the burning news states that Fivrr has filed to go public on the New York Stock Exchange under the ticker “FVRR”.
Quick Freelance Engagements
The firm, famous for quick- turnaround freelance engagements among other tasks, is a remarkable Initial public offering (IPO) candidate. Since its inception in 2010, Fiverr has raised a total of $111million, according to its profile. Its most recent increase was led by two large U.S.-based venture firms: Bessemer Venture Partners and Accel.
The market for Fiverr’s trade is reasonably great it seems, has given the firm’s growth rates and revenue scale which is in 2018 that figure rose to $75.5 million. Those figures are on the low end of the (IPO) scale but are enough for Fiverr to risk on its own first appearance.