Fiverr is an Israeli online marketplace for freelance services. Fiverr serves to allow listing and applying for small one-off jobs, or gigs, online. Jobs listed on the platform are diverse and range from “get a well-designed business card” to “help with HTML, JavaScript, CSS, and JQuery. Fiverr is a company built on the model of listing temporary work positions. Freelancers work in a variety of workplaces, ranging from home to office. Fiverr serves as e-commerce platform to freelancers and companies to sell their services by using their gigs. The pricing of Gigs depends on how much a seller earns per completed task.
History of Fiverr
Fiverr was founded by Micha Kaufman and Shai Wininger. The founders came up with the concept of a marketplace that would provide a two-sided market for people to buy and sell a variety of digital services typically offered by freelance contractors. Services offered on the site include writing, translation, graphic design, video editing and programming. Each service offered is called a “gig”. Fiverr’s services start at US$5, and can go up to thousands of dollars with gig extras.
The website was launched in February 2010 and by 2012 was hosting over 1.3 million gigs.
In December 2013, Fiverr released their iOS app in the Apple App Store and in March 2014 the company published their Android App in the Google Play Store.
In October 2015, Amazon.com started legal action against 1,114 Fiverr sellers it claims provide fake reviews on the US version of its website. Fiverr did not dispute Amazon’s allegations and stated: “As Amazon noted, we have worked closely together to remove services that violate our terms of use, and respond promptly to any reports of inappropriate content.” Amazon filed suit after an undercover sting.
In November 2015, Fiverr announced that it had raised US$60 million in a Series D round of funding, led by Square Peg Capital. The round brought their total funding to date to $110 million.
In June 2019, it listed on NYSE. On February 18, 2021, the company reported $189.5 million in revenue for the 2020 fiscal year, a 77% increase from the previous fiscal year ($107.1 million).
In 2017, Fiverr acquired video creation marketplace VeedMe.
In January 2018, AND CO, maker of software for freelancers, was acquired by Fiverr. Then CEO Micha Kaufman said at the time that many of AND CO’s capabilities, such as invoicing, are “baked into” the Fiverr marketplace, but “the vast majority of freelancing is happening offline”—and Fiverr wants to enable those offline relationships.
In February 2019, Fiverr acquired premium subscription-based content marketing platform, ClearVoice which was founded in 2014.
In August 2020, Fiverr acquired SLT Consulting, a boutique digital marketing agency specializing in social media marketing, search and SEO, as well as brand and content marketing. The agency built its business using Fiverr.
In February 2021, Fiverr acquired creative talent marketplace Working Not Working.
