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Fiverr

Website : www.fiverr.com

Fiverr is the world’s largest online marketplace for freelance services, beginning at a cost of $5 per job performed, from which it gets its name. Based in Israel and headquartered at Tel Aviv, the site is primarily used by freelancers to offer services to customers worldwide. As of 2012, over three million services were listed on Fiverr.

Fiverr was founded by Shai Wininger and Micha Kaufman on February 1, 2010.

Wininger 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. 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 U.S. and top 200 in the world since the beginning of 2013.

On June 1, 2010, Fiverr received a seed investment of US$1 million from Cubit Investments, 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.

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 has 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.

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.”

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.

 

 

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