Fiverr is a freelance marketplace who had a very satisfying day on the initial round of trading.
The company sets the price of its IPO at $21 per share. This was set at last night. The fund raised around $111 million. After that, the price started trading at $26. The share is growing for the whole day and then it is shutting down at $39.90. It is almost 90% of the price of IPO.
Fiverr is one of the most famous companies which has the facility of gig-economy. When they decided to share their plans to the public, they stated that they have almost done 50 million transactions. All the transactions were done between 830000 freelancers and 5.5 million buyers.
Right now, investors have wished to bet for the company. But they are losing too much money. They have come up with a loss of $36.1 million, which was generated on the revenue of $75.5. This was the record of the year 2018. The founder and CEO of the company named Micha Kaufman have shared a view where the company’s EBITDA is shrinking.
“Kaufman has shared that We are on the path to profitability,” and he also added that “That’s the balance we’re trying to keep — focusing on growth while building a business that would be profitable in the long term.”
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