Fiverr
Fiverr
Online marketplace for freelance services
Online marketplace for freelance services
Fiverr is an Israeli
online marketplace for freelance services. The company provides a platform for
freelancers to offer services to customers worldwide.
Fiverr International Ltd.
History
Fiverr was
founded by Micha Kaufman and Shai Wininger, and was launched in February 2010.
The founders came up with the concept of a marketplace that would provide a two
sided platform for people to buy and sell a variety of digital services
typically offered by freelance contractors. Services offered on the site
include writing, translation, graphic design, video editing and
programming.[citation needed] Fiverr’s services start at US$5, and can go up to
thousands of dollars with gig extras. Each service offered is called a “gig”.
The
website was launched in early 2010 and by 2012 was hosting over 1.3 million
Gigs. The website transaction volume has grown 600% since 2011. Additionally,
Fiverr.com has been ranked among the top 100 most popular sites in the United
States and top 200 in the world since the beginning of 2013.[citation needed]
On June 1,
2010, Fiverr received a seed investment of US$1 million from Guy Gamzu and
other angel investors, and in May 2012, Fiverr secured US$15 million in funding
from Accel Partners and Bessemer Venture Partners, bringing the company’s total
funding to US$20 million.[citation needed]
In
December 2013, Fiverr released their iOS app in the Apple App Store, and in
March 2014, Fiverr released their Android app in the Google Play store.
During
August 2014, Fiverr announced that it had raised US$30 million in a Series C
round of funding from Bessemer Venture Partners, Accel (formerly known as Accel
Partners) and other investors. The round brings their total funding to date to
US$50 million.[citation needed]
In October
2015, Amazon.com started legal action against 1,114 Fiverr sellers it claims
provide fake reviews on the US version of its website. Fiverr did not dispute
Amazon’s allegations and stated: “As Amazon noted, we have worked closely
together to remove services that violate our terms of use, and respond promptly
to any reports of inappropriate content.” Amazon filed suit after an undercover
sting.
In
November 2015, Fiverr announced that it had raised US$60 million in a Series D
round of funding, led by Square Peg Capital. The round brings their total
funding to date to $110 million. At the same time, the company announced that
it was expanding the marketplace to allow sellers the ability to price
productized services, known as Gigs, at prices above the original US$5
price.[citation needed]
In June
2019, it listed on NYSE.
On
February 19, 2020, the company reported $107.1 million in revenue for the 2019
fiscal year.
Acquisitions
In 2017,
Fiverr acquired video creation marketplace VeedMe.
In January
2018, AND CO, maker of software for freelancers, was acquired by Fiverr. CEO
Micha Kaufman said at the time that many of AND CO’s capabilities, such as
invoicing, are “baked into” the Fiverr marketplace, but “the vast majority of
freelancing is happening offline”—and Fiverr wants to enable those offline
relationships.
In
February 2019, Fiverr acquired premium subscription-based content marketing
platform, ClearVoice which was founded in 2014.
In August
2020, Fiverr acquired SLT Consulting, a boutique digital marketing agency
specializing in social media marketing, search and SEO, as well as brand and
content marketing. The agency built its business using Fiverr.
In
February 2021, Fiverr acquired creative talent marketplace Working Not Working.
Gigs
Fiverr
serves to allow listing and applying for small one-off jobs, or gigs, online.
Jobs listed on the platform are diverse and range from “get a well-designed
business card” to “help with HTML, JavaScript, CSS, and jQuery”. Fiverr is a
company built on the model of listing temporary work positions. Freelancers
work in a variety of workplaces, ranging from home to office. Fiverr serves as
e-commerce platform to freelancers & companies to sell their services by
using their gigs. Gig is basically an advertisement of services. Gig include
all the details of a services same like ecommerce products The pricing of Gigs depends on how much a
seller earns per completed task. The buyers buy services in the form of gigs.
Fiverr has
received criticism for advertising very cheap graphic services. At the end of
2014, Fiverr’s Facebook page advertisement saying “You’re paying too much for
design” caused a public outcry. In 2013, Fiverr lifted the five dollar base
price and began allowing logo designers, graphic artists, voice over artists
and other sellers to charge the base prices they set for themselves.
Fiverr
gives 100% privileges to buyers thereby neglecting seller rights. After a job
has been completed, a buyer has the full rights to request for a refund.
Critics argue that Fiverr needs a balance in their equal-rights policy for both
sellers as well as buyers.
Advertisements
In 2017,
Fiverr was criticized for advertisements portraying unhealthy living and
excesses in work behaviors as ideals to live up to.
Better
Business Bureau ratings
In 2018,
Fiverr received an “F” rating from the Better Business Bureau, which is the
lowest grade that can be given. In 2019, Fiverr received a “B” rating after
responding to customer complaints.
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