Oxford Reports

Latest and Independent News

News Technology

Fiverr Share Price Soars More Then 90% On The First Days of Trading

Fiverr, an online marketplace freelance company stock price has soared by 90% on its first day of trading. Last night, the company set his share price at $21/piece which helped them to raise $111 Million. In the morning the company’s share price rose to $26 and on the closing time, it surged to $39.90 which is more than 90% from the IPO price.

The company filed to go public last month. Fiverr said that since the inception has facilitated 50 Million worth transactions between 5.5 million buyers and 8,30,000 freelancers.  Investors are willing to bet money on the company despite losing more money every year. Last year the company lost 36.1 million on revenue of $75.5 million. “We are on the path to profitability,” Kaufman said. “That’s the balance we’re trying to keep — focusing on growth while building a business that would be profitable in the long term.”

The underwriters of the company are JP Morgan Chase, Needham company, and UBS investment group. In the SEC filing, the company said, “Our mission is to change how the world works together,” Fiverr says in the filing. “We started with the simple idea that people should be able to buy and sell digital services in the same fashion as physical goods on an e-commerce platform. On that basis, we set out to design a digital marketplace that is built with a comprehensive SKU-like services catalog and an efficient search, find and order process that mirrors a typical e-commerce transaction.”

The principal at Renaissance Capital, Kathleen Smith says, “The losses are really an issue here, but they’re not that large—they lost about $25 million in 2019 and it’ll be about the same in 2020, but it’s going to be until 2022 at least until we see profitability,” said Kathleen Smith, principal at Renaissance Capital, a provider of institutional research and IPO ETFs.“That’s a negative, so this company is going to have to show growth and at least some directional moves toward profitability.”


Your email address will not be published. Required fields are marked *

Julie Halpert
My goal is to fill my days writing and editing, either on a freelance, project or full-time basis. I also co-teach a journalism course and would be delighted to expand the time I devote to instruction on the craft of journalism, either in the classroom or as a media coach. I'm always eagerly looking for new opportunities in writing, editing and public speaking