IPO: Fiverr International

Article Excerpt

FIVERR INTERNATIONAL LTD. (New York symbol FVRR; Manufacturing & Industry sector; www.fiverr.com) operates an online marketplace that connects businesses with individuals offering freelance digital services such as video editing and blog writing. Since it began operating in 2010, Israel-based Fiverr has facilitated over 50 million transactions between over 5.5 million buyers and more than 830,000 sellers. Fiverr now plans to raise $100 million in an initial public offering. To put that amount in context, its losses improved to $8.3 million in the three months ended March 31, 2019 from $16.3 million a year earlier. The company’s revenue rose 41.9% to $23.8 million from $16.7 million. As of March 31, 2019, Fiverr held cash of $44.6 million, and its long-term debt was just $5.5 million. The company should benefit as more businesses outsource certain functions to freelancers to cut their costs. We’ll keep an eye on the progress of Fiverr’s IPO and continue to update our advice. advice…