Fiverr, Online Services Marketplace, Is Going Public: What You Need to Know (Part 2) [PRO]

Coworks

This two-part Spend Matters PRO series examines the online services platform provider Fiverr, which recently announced that it is going public (presumptively this month). The company — which has brought a fresh, distinct approach to the business market for freelancer-driven, platform-based work/services — will become the next business in the category to IPO after Freelancer.com (ASX: FLN) in 2013 and Upwork (NASDAQ: UPWK) in 2018.

Becoming a public company can be accompanied by opportunities for business validation, market awareness, access to capital, etc., but it brings new responsibilities, transparency and challenges (especially in a market that — despite getting kicked off in the mid-2000s — is still immature and evolving). Do these IPOs mark the start of a new stage of market development when businesses of all sizes may begin to accommodate and scale their new workforce models? If so, what do procurement practitioners and senior business executives know about Fiverr and the market that it and other work/services platforms operate in?

In Part 1, we examined Fiverr as an online work/services platform business (background, go-to-market strategy, solution offering and financial picture).

In Part 2, we will look at Fiverr in a broader industry context and provide a high-level comparison to Freelancer.com and Upwork. We also offer insights for procurement practitioners and executive leadership in larger organizations who are trying to get a handle on the potential supply channel of online/remote, freelancer-based work/services platforms.

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