Despite choppy equity markets, gig economy companies continue to go public. Next up is the online talent marketplace Fiverr, which filed their IPO prospectus a few weeks ago.
Launched in 2010, Fiverr got it's name from its original business model, which was connecting services buyers with sellers would do a wide variety of tasks for just $5 dollars.
But it quickly branched out beyond this and today it provides a wide range of services - most of which are in the creative fields - at price points ranging into the thousands of dollars.
And like other online talent marketplaces, they started targeting large enterprises several years ago.
As with many of the gig economy companies, Fiverr is growing fast and losing a lot of money. This is illustrated by the prospectus chart below (click to enlarge).
We've long followed Fiverr (we're also a customer) and we've always been impressed by their management team, strategy and business model. We particularly think their focus on creative work is well thought out.
We also see Fiverr as an excellent example of many of the trends we follow. These include the hyperspecialization of jobs, the taskification of work,and the growth distributed teams that include traditional employees and contingent labor.
And, of course, the growth of the gig economy and independent work.
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