Fiverr hires US banks ahead of IPO - report

Micha Kaufman  photo: PR

The Israeli online marketplace for freelancers plans a Wall Street offering at a company valuation of $800 million, "Bloomberg" reports.

Israeli online marketplace for freelancers Fiverr has hired investment banks Citigroup and JPMorgan Chase to manage a Wall Street IPO, "Bloomberg" reports, according to people familiar with the matter.

"Bloomberg" reports that Tel Aviv-based Fiverr is likely to conduct the offering in the second half of 2019, at a company valuation of $800 million. "Bloomberg" added, "No final decisions have been made, and both the timing and the valuation may be amended, the people said."

The report comes a day after Fiverr announced that it is acquiring US company subscription-based content marketing platform ClearVoice. The acquisition will enable businesses using Fiverr's platform to more easily and conveniently create content. No financial details about the acquisition were disclosed.

Founded in 2010, Fiverr has raised $111 million from Bessemer Venture Partners, Qumra Capital and other investors. The company, which has offices in Tel Aviv, New York, Chicago and San Francisco, provides a platform to professionals offering services for $5 in more than 100 areas of the gig economy including graphic design, marketing and advertising, writing, translating, and software development.

Published by Globes, Israel business news - en.globes.co.il - on February 15, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

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Micha Kaufman  photo: PR
Micha Kaufman photo: PR
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