Afternoon Coffee: Fiverr’s post-IPO share price bump; Walmart, other companies urge Trump to solve trade crisis

“Fiverr (NYSE: FVRR), the online marketplace for digital creative services, priced its 5.3 million IPO shares Wednesday night at $21 per, raising about $111 million in new funding,” wrote Andrew Karpie, Spend Matters’ research director for services and labor procurement, hot on the heels of the breaking news. “On Thursday morning, shares began trading at $26, but when the market closed in the afternoon, Fiverr’s share price had risen to $39.96 (nearly doubling).”

Karpie provided more insight in the initial story:

“For all the gig economy sizzle, the market for online freelancer work/services is still young — which means there is great uncertainty and, on the flip-side, technology-based innovation (leading to many different approaches to supporting economic exchange between businesses and online freelancers)" he wrote. "Fiverr goes to market with a unique approach, which it calls services-as-a-product (SaaP) within which businesses effectively shop online for a standardized service deliverables with comparable, no-haggle prices.”

Read even deeper dives on Fiverr’s IPO — see the related articles below (paywall).

IBM spearheads new drug supply chain blockchain initiative

IBM has partnered up with KPMG, Merck and Walmart to build a drug supply chain blockchain pilot. The new solution will track certain drugs as they move up the supply chain. While IBM is the tech partner, KPMG brings its knowledge of compliance to the table. Merck would provide the goods while Walmart would be a drug distributor through its pharmacies.

Grounding of Boeing 737 MAX forces parts supplier ‘re-think’

It was one of the most popular aircraft from Boeing’s stable before running into problems. The grounding of the 737 MAX airliner, now in its fourth month, has some parts suppliers rethinking their strategies as inventories swell and no clear-cut understanding on the timeline for re-introduction of the plane into active service. Supply lines are strained leading to a shortage of engines and seats.

Over 600 US companies ask Trump to solve trade crisis

Walmart Inc., Target Corp. and over 600 other companies have written to President Donald Trump to resolve the trade dispute with China. Tariffs are hurting American business, said the signatories. This letter is one of many sent to the Trump administration by ‘Tariffs Hurt the Heartland,’ a national campaign supported by over 150 trade groups.

Ralph Lauren commits to supply chain sourcing changes

On the heels of Gap and H&M, Ralph Lauren has also committed to a sourcing goal for sustainable cotton. The company’s deadline to sustainably source 100% of its cotton and viscose and using 100% recycled polyester is 2025. The fashion line also made commitments and set goals for carbon emissions, chemical management and water use, among other things.

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