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Fiverr International Ltd. (NYSE: FVRR) is pioneering the future of work by leading the freelance economy online. Established in 2010, Fiverr operates from key global locations including New York City, Chicago, Miami, San Francisco, and Tel Aviv, and has emerged as the world's largest and most transacted marketplace for digital services.
Fiverr's platform allows buyers to procure a wide range of digital services with ease and efficiency. By offering a horizontal marketplace, Fiverr provides nearly any digital service through a seamless, one-click purchase process, eliminating the need for negotiations over deliverables or prices. Users can choose from an extensive catalog of pre-packaged services, encompassing categories like Graphic Design, Digital Marketing, Video and Animation, Writing and Translation, and many more, delivered by freelancers from over 196 countries.
In recent developments, Fiverr has launched a reimagined homepage, a new consulting category, and an updated review and leveling system to enhance user experience and foster stronger relationships between businesses and freelancers. CEO Micha Kaufman emphasized that these innovations are driven by feedback from Fiverr's global community, intending to provide radical transparency and clearer paths for freelancers to improve and grow their businesses.
Fiverr's financial health is robust, as evidenced by their 2023 performance which saw revenue and Adjusted EBITDA surpassing targets. The company is committed to continuous innovation, introducing AI features across the platform and aiming to expand its market share in the digital services industry. Their strategic focus includes moving upmarket and investing in complex services to drive profitable growth.
Additionally, Fiverr has rolled out Fiverr Agencies, which helps agency teams build client bases and improve their visibility. This initiative supports businesses in accessing expert talent for advanced collaboration and enhanced productivity.
Fiverr's mission is to democratize access to talent, enabling both individuals and large enterprises to achieve their business goals. Their offerings span over 700 skills, ensuring flexibility and adaptability in today's dynamic work environment. For more insights and updates, visit fiverr.com, read their blog, and follow them on social media platforms.
Fiverr (NYSE: FVRR) has announced the launch of its Breakthrough Achievement recognition to honor freelancers who have surpassed significant revenue milestones on the platform. Freelancers earning over $1 million in lifetime earnings will receive a personalized gold award, while those surpassing $5 million will receive a platinum award. The initiative highlights the growing importance of freelancing, with Harvard Business Review Analytic Services reporting freelancers will make up 50% of the workforce by 2027. The program celebrates freelancers from diverse fields such as graphics, digital marketing, and tech, and recognizes them for their contributions to the freelance economy. The recognition includes notable freelancers like Aditya Gupta, who has seen a 200x increase in revenue, and Beau Vallis, a Grammy-nominated music engineer. Fiverr's CEO Micha Kaufman praised freelancers' dedication and emphasized the company's commitment to supporting their growth and opportunities. The program also includes a webinar featuring successful freelancers sharing their insights.
Fiverr (NYSE: FVRR) has published a comprehensive report, “Strategic Insights: Leveraging Freelance Talent in Finance,” shedding light on the current challenges and trends in the finance sector. Layoffs have impacted 50% of finance companies, while a talent shortage in fintech and AI expertise persists. Despite these hurdles, 64% of executives are optimistic about AI, with many witnessing improvements in efficiency and decision-making.
Freelancers play a vital role in addressing workforce gaps, with 66% of finance firms leveraging freelance talent weekly. Key skills sought include fintech innovation (24%) and AI expertise (18%). The report also highlights a shift towards hybrid work models, with 78% of executives noting productivity gains. Executives are particularly focused on outsourcing tasks like financial reporting (22%), strategic planning (19%), and audit preparation (16%).
Data was collected from 501 US finance business leaders between May 10 and May 22, 2024, emphasizing a strategic move towards freelance integration to navigate economic and regulatory challenges.
Fiverr (NYSE: FVRR) released research highlighting the lack of comprehensive layoff plans among companies. The study, involving 1,001 managers and decision-makers from mid-to-large-sized US companies, found that 72% of leaders lacked comprehensive layoff plans. Layoffs in Q1 2024 affected over 250,000 employees, with new technology and AI being key reasons for job cuts. While 89% expressed concerns about stress and burnout, 91% were worried about job security. The report noted that 97% of managers believed freelancers helped balance workloads and boost morale. Furthermore, 69% of firms hired freelancers post-layoffs, and 72% think freelance work can reduce future layoffs.
Fiverr (NYSE: FVRR) has announced a partnership with interior design expert and CEO Bobby Berk, who will serve as the company's new brand ambassador. Berk will provide exclusive content featuring design tips and insights, along with edition consultations to three individuals or businesses, aimed at transforming their home or office spaces. The consultation period runs from June 3-17, 2024, and interested parties can apply online via Fiverr. Winners will receive a free 45-minute design session. This initiative highlights Fiverr's role in connecting professionals with specialized experts and promoting growth through innovative collaborations.
Fiverr's 7th annual Freelance Economic Impact Report reveals that Orlando, Miami, and Tampa lead the U.S. in freelancer population and revenue growth. The report covers 30 cities and highlights significant growth in Texas cities, while San Francisco and New York remain stagnant. Key findings include:
1. Freelancers in major cities earn on average $4,334 more annually compared to the U.S. average.
2. 38% of U.S. freelancers increased their rates in 2023, with 49% planning further hikes within six months.
3. 40% of freelancers use AI tools, boosting productivity by an average of 8.1 hours per week.
4. 71% of freelancers are now full-time, up from 64% in 2022.
5. Flexibility is a significant draw, particularly for women.
Houston, Orlando, Las Vegas, and Miami are the fastest-growing markets, while creative professionals thrive in Los Angeles, New York, and Nashville, and tech-focused freelancers are prominent in Boston and Seattle.
Fiverr International (NYSE: FVRR) announced that its CEO, Micha Kaufman, and CFO, Ofer Katz, will present at the J.P. Morgan Global Technology, Media and Communications Conference.
The conference is scheduled for May 20, 2024, at 1:50 pm Eastern Time. A live webcast of their presentation will be accessible via Fiverr's investor relations website, with an archived replay available after the event.
Fiverr reported strong Q1 2024 results, with revenue at the top end of guidance and Adjusted EBITDA exceeding expectations. GMV growth, SPB expansion, and share repurchase program are highlights. The company raises 2024 guidance and focuses on strategic investments.
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