Fiverr is an Israel-based online labor marketplace that connects freelancers and businesses with e-commerce-style features. The company launched this ‘Service-as-a-Product’ model as referred to by Fiverr, which commenced in 2010. It also offers subscription-based freelancer services (launched in February 2021). The feature allows Fiverr clients to purchase a predefined set of services offered by freelancers.
Unlike its closest competitor, Upwork, which encourages specialization, Fiverr grants freelancers the ability to pitch themselves for gigs drawing from a wide range of skill sets. Fiverr offers over 400 categories of work with an emphasis on creative and creative-adjacent fields, including graphics, design, digital marketing, writing, programming, and animation. It also announced a new vertical, data-related services, in March 2021 comprising six main categories and subcategories, including data analytics, processing, and visualization. Fiverr’s product offering also includes a suite of back-office tools–Fiverr Workspace–announced in November 2021, to help freelancers and small business owners manage their back-end operations. Fiverr Workspace allows users to combine independent freelance businesses and those already on the Fiverr Marketplace onto a unified platform.
The company announced “Togetherr” ( June 2022 ), a platform that connects freelancer creative teams, with leading global brands and agencies using Fiverr’s proprietary technology (the Creative Genome), AI, machine learning, and manual vetting, with the aim to establish its presence in the advertising industry. In January 2023, Fiverr announced the development of numerous AI tools including Fiverr Logo Maker (AI-generated logo designs) and AI Auditions (allows voiceover artists to generate audio samples without the need to read from a script). Additionally, the company launched an AI category and skills to its catalog, given the growth in searches for AI-related services
In May 2023, Fiverr launched Fiverr Enterprise (formerly Stoke Talent), allowing businesses to build their own freelance workforce. The platform provides standardized onboarding, management, and complete visibility into the company’s global workforce. The product simplifies budget tracking, tax, legal, and compliance processes and gives businesses complete control to source, onboard, manage, and pay their own talent.
In August 2023 , Fiverr released its Fiverr Business Solutions and Fiverr Neo. Fiverr Business Solutions is a suite of professional solutions catering to mid-sized to enterprise businesses. Fiverr Neo is a matching tool that leverages technology and algorithms to provide personalized and efficient matching experiences for customers and talent on the platform.
Fiverr announced its localization efforts in Latin America with launches in Mexico and Brazil in November 2020, The expansion follows Fiverr’s successful prior expansions into European markets, such as the UK, Germany, Spain, Portugal, and the Netherlands. Fiverr reported impressive freelancer registration growth rates in Brazil (up 137% YoY) and Mexico (up 109% YoY). This expansion will offer local payment solutions to its users and improve the user experience by adopting local languages.
Fiverr’s M&A activity outlines its strategy to become an end-to-end solution provider. In 2021, it acquired freelance management platform Stoke Talent (November 2021), online learning platform CreativeLive (October 2021), and the creative talent platform Working Not Working (February 2021). Through the acquisitions, Fiverr moved upmarket to cater to larger brands and agencies.
In November 2023 , Working Not Working Inc., a subsidiary of Fiverr, introduced NTRNL,a platform for sourcing internal talent and showcasing employees' passions and expertise for creative projects.
Key customers and partnerships
Fiverr announced its partnership with Australia-based AI marketing platform Metigy in May 2021. As a result, Metigy’s customers gained access to Fiverr’s pool of freelancers offering digital services such as photoshop editing, social media design, copywriting, and programming. On the other hand, sellers on Fiverr benefit from the addition of Metigy’s customers, who are primarily small and medium-sized enterprises (SMEs). As of November 2020, the platform serves around 26,000 customers across several markets, including Australia and New Zealand, which combine to form 44% of total customers, the Southeast Asian region (26%), and the US (22%). The partnership is a result of Fiverr’s successful localization efforts in Australia.
Funding and financials
In June 2019, Fiverr listed on the New York Stock Exchange (NYSE) to raise approximately USD 111 million.
Fiverr reported FY2022 revenue of USD 337 million, up 13% YoY from USD 298 million. The company’s FY2022 net loss per share deteriorated to USD 1.94 from USD 1.81. Active buyers grew to 4.3 million, compared to 4.2 million in FY2021. FY2022 take rate was 30.2%, up from 29.2% in FY2021, an increase of 100 basis points YoY. Adjusted EBITDA in 2022 stood at USD 24.4 million, compared to USD 22.9 million in FY2021.
Fiverr guided FY2023 revenue to be between USD 350 and USD 365 million, implying a 4%–8% YoY growth, with adjusted EBITDA guidance between USD 45 million and USD 55 million.
No investor data is available
By using this site, you agree to allow SPEEDA Edge and our partners to use cookies for analytics and personalization. Visit our privacy policy for more information about our data collection practices.