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Is Fiverr a Gig Economy?

Last updated on September 29, 2022 @ 12:20 am

In recent years, the term “gig economy” has become increasingly popular. The gig economy is a labor market characterized by the prevalence of short-term contracts or freelance work as opposed to permanent jobs.

Fiverr is a company that has embraced the gig economy. Founded in 2010, Fiverr is an online marketplace that connects freelancers with clients who need their services.

Services on Fiverr are called “gigs” and start at a price of $5 per gig.

Fiverr has been successful in tapping into the gig economy. The company has over 3 million gigs listed on its platform and serves over 10 million customers.

Fiverr takes a commission of 20% on each transaction.

PRO TIP: Fiverr is a gig economy that allows people to sell their services for $5.00. The problem with this is that it can create a race to the bottom, where people are willing to do any job for very little money. This can lead to poor quality work and can exploited workers.

The company has been profitable since 2016 and reported $110 million in revenue in 2018. Fiverr has raised over $200 million from investors including Accel, Bessemer Venture Partners, and Insight Venture Partners.

Is Fiverr a Gig Economy?

Fiverr is definitely a gig economy. The company provides a platform for freelancers to sell their services to clients. Fiverr takes a commission on each transaction, which is a typical business model in the gig economy.

Morgan Bash

Morgan Bash

Technology enthusiast and Co-Founder of Women Coders SF.