Fiverr is an online marketplace that allows users to sell or buy services starting at $5. The site is mainly used by freelancers who offer services such as graphic design, digital marketing, writing and translation, video and animation, music and audio, programming and tech, business, and more.
Fiverr was founded in 2010 by Shai Wininger and Micha Kaufman. The company is headquartered in Tel Aviv, Israel. It has raised over $110 million in funding from investors including Bessemer Venture Partners, Accel Partners, Qumra Capital, Tiger Global Management, and more.
In 2016, Fiverr acquired two companies: ClearVoice and AND CO. ClearVoice is a content marketing platform that helps brands create and manage content. AND CO is a software company that provides tools for freelancers, such as invoicing and expense tracking.
In 2018, Fiverr went public on the New York Stock Exchange (NYSE) under the ticker symbol “FVRR”.
Since going public, Fiverr’s stock price has plummeted. In 2019, the company reported losses of $52.3 million.
In 2020, it reported a loss of $107.7 million. As of 2021, the stock price is down over 70% from its IPO price of $21 per share.
Fiverr is a platform that connects freelancers with businesses, but recent reports suggest that the quality of work on the site has declined sharply. In fact, some businesses have even had to resort to filing lawsuits against freelancers who have failed to deliver on their promises.
So if you’re considering using Fiverr, be sure to do your research and only work with freelancers who have a good track record. Otherwise, you may end up being very disappointed with the results.
There are several factors that have contributed to Fiverr’s decline:
1) The Gig Economy Is Slowing Down: The “gig economy” refers to the trend of people working freelance or temporary jobs instead of traditional full-time jobs. This trend has been fueled by companies like Uber and Airbnb that allow people to use their personal assets (such as their car or home) to make money.
The gig economy has been slowing down in recent years due to a number of factors, including regulatory hurdles and a decrease in demand from consumers during economic downturns. This has had a negative impact on Fiverr’s business because the company depends on freelancers for its services.
2) Increasing Competition: There are a number of other companies that offer services similar to Fiverr, including UpWork, 99designs, and PeoplePerHour. These companies have been growing their market share at Fiverr’s expense.
3) Poor Financial Management: Fiverr has been spending heavily on marketing and expansion while its revenue growth has slowed down. This has led to concerns about the company’s ability to generate profits in the future.
What Happened to Fiverr?
Fiverr’s stock price has plummeted since it’s IPO in 2018 due to several factors including the slowing down of the gig economy and increasing competition from other service providers
