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The share of Fiverr International Ltd. nearly doubled Thursday in the public debut of the software company gig-economy.
Fiverr based in Israel
FVRR, + 90.00%
which makes software to link freelancers to companies that need completed projects, sees great potential for online freelance research. Managing Director Micha Kaufman told MarketWatch that the online market for independent services accounted for a small share of the total independent market.
"It's really like e-commerce 20 years ago," he said.
Fiverr shares opened Thursday at $ 26, 24% higher than their initial public offering price of $ 21, and continued to climb to $ 39.90, a 90% increase over the price of POPE.
The company is now looking to strengthen its international presence, since 70% of its turnover currently comes from English speaking countries. Fiverr also sees her platform as "infinitely scalable," which could allow her to expand beyond the 200+ categories of work she currently offers. The company really wants to energize the different aspects of the economy of the entertainment market, so much so that it has spread the word "concert".
The key question with Fiverr is whether investors will come to see it more as a software publisher or as a major player in the market economy.
"Public procurement has not yet (yet) rolled out the red carpet for young companies in the big economy, such as Upwork, Uber
UBER, + 5.07%
and Lyft
LYFT, + 4.79%
"Rohit Kulnarni, executive director of MKM Partners, wrote. "We believe in the long-term potential of these markets, but risks such as the dark road to profitability and the debate around big-transformation economy workers labeled 1099-contractors would likely weigh on short-term performance. post-IPO term ".
Fiverr IPO: 5 things to know about the big company that got the word "gig" in its brand
Fellow of the Upwork freelance platform Inc.
UPWK, + 7.62%
made a splash with its IPO last fall, but stocks are now barely trading above their $ 15 offer price. Kaufman declined to make comparisons with specific companies but said the Fiverr platform is differentiated because there is no hourly rate but only fixed costs for a project.
"This level of transparency is a real revolution for companies," he said.
Fiverr got its name partly because many of the original "microservices" cost $ 5, although Kaufman said the company was also trying to make it easier for companies to find work. in freelance "in less than five minutes". At the moment, companies are looking for freelancers about 15 minutes across the platform, he said.
Read: CrowdStrike stock nearly doubled after IPO, CEO compares security firm to Salesforce
Fiverr's revenues reached $ 75.5 million last year, up from $ 52.1 million a year ago, while losses increased to $ 36.1 million from $ 19.3 million . The company lost $ 8.3 million in the first quarter of 2019, compared to a loss of $ 16.3 million in the same period of the previous year.
The offer is in the form of Renaissance IPO ETF
Initial Public Offering, + 1.16%
has gained 35% over the year and that the S & P 500 index
SPX, + 0.41%
climbed 15% during this period.
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