https://en.globes.co.il/en/article-fiverr-already-worth-more-than-5b-1001344501
Fiverr already worth more than $5b
en.globes.co.il
Israeli gig economy platform developer Fiverr International Ltd. (NYSE: FVRR) is worth more than $5 billion. The company's share price rose 2.16% on Wall Street on Friday to $153.01, to give a market cap of $5.34 billion.
Fiverr, whose internet platform connects freelancers with customers, thus avoiding the need for face-to-face meetings, has been boosted by the Covid-19 pandemic. Furthermore, with growing unemployment, more and more people are seeking part time freelance and gig work on the Internet.
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Founded in 2010 by CEO Micha Kaufman and Shai Wininger, Fiverr held its initial public offering (IPO) just 16 months ago when it raised $110 million at $21 per share at a company valuation of $650 million. Since then the company's share price has risen more than sevenfold.
The company turned profitable in the second quarter of 2020, earlier than expected, and raised $130 million in a secondary offering in May.
Last month Fiverr launched Fiverr Business, a new platform targeting team collaboration and the management of freelance projects.
Published by Globes, Israel business news - - on October 4, 2020
