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Fiverr files for IPO backed by Bessemer and Accel partners

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Fiverr files for IPO backed by Bessemer and Accel partners

The Isreali startup Fiverr is now backed by Bessemer and Accel Partners. Investing in start-ups is now a trend, and so a lot of companies are aiming to go with it. While the survival of the start-up can be super difficult, huge firms prove to be promising accelerators to them.

Estimated value

Bessemer Venture Partners also have their franchise in India and are creating huge employment here as well. Fiverr is a marketplace for freelancers to find and match-up with employees. Fiverr has been valued around $262 million dollars in 2015, this website has catered to an array of creative needs of the freelancers.

Fiverr files for IPO backed by Bessemer and Accel partners

It has also been a platform for various creative works. you need a voice-over, need editing, Fiverr can do it. Anything and everything can be done here. It is like needs meeting solutions. The company has been filed to go public under the name of FVRR. They can create illustrations, translations and literally everything else.

Fiverr IPO

The company’s IPO would be led by JPMorgan and Citigroup, Bloomberg reported that the IPO would value around $800 million. The company started trading in National Stock Exchange in April. The company follows the Service-as-a-product system. Thus, it earns by being the middlemen, that is on the commission generated by helping the freelancers meet potential customers.  

Fiverr files for IPO backed by Bessemer and Accel partners

Fiverr has reported over $75.5 million in revenue filing expenses in the year 2018. In the calendar year 2017, it valued onto $52 million, hence the overall expenses have increased by 44.9%. So in the year 2018, the company suffered a loss of $36 million in 2017 and $19 million in 2018.

For more updates, please stay tuned to The Geek Herald.

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