Thoughts on Fiverr

Fiverr is a web based platform that allows freelancers to offer their service to individuals and businesses. Anything ranging from simple services like a logo design to something more complex like SEO marketing. Fiverr’s business model is known as Service-as-a-product. They provide a platform to effectively productize a service. This year Fiverr stock price has appreciated by 678%. The pandemic has led to a lot more in-house time for creatives, engineers, developers alike. The number of people trying to start a online business/presence have skyrocketed and has led to the increased demand for one-time one-off services. Fiverr currently has an Alexa Rank of 195, up by over 100 spots in the last 3 months. In terms of revenue, the company seems to be leading by a margin in this space.

Recently, Fiverr launched Fiverr Business which is a subscription based model allowing organizations to manage freelance resources. In a way, it doubles as a large pool of consultants who can be used as resources for projects. More ad-hoc and more varied in terms of talent and competence availability. Saving a lot of time from recruitment point of view. In my opinion, that’s genius.

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