• Fiverr has announced the acquisition of freelance management platform Stoke Talent (Stoke) for USD 95 million. Following the acquisition, Stoke Talent will remain a standalone entity, and its platform will be integrated with Fiverr.

• Stoke emerged from stealth in 2020 and offers a platform for organizations to manage their external workforce including independent contractors, freelancers, and consultants. It can be used to hire talent, onboard freelancers, and make payments across 190 countries. Stoke has raised around USD 20 million in funding, most recently a USD 15.5 million Series A round, valued at USD 44 million valuation.  

<ul><li> Analyst QuickTake: Through the acquisition, Fiverr plans to bolster its offering and introduce more features it can monetize as competition ramps up. The acquisition follows LinkedIn’s move to compete against the likes of Fiverr and Upwork through its launch of Service Marketplace in late October. In return, Fiverr aims to leverage Stoke’s platform to service larger companies, providing a one-stop shop offering to manage freelancers. To this effect, Fiverr acquired CreativeLive in early October to offer professional education and training for potential freelancers or upskilling opportunities for freelancers already on the Fiverr marketplace.</ul>