Freelance Marketplace Fiverr files for IPO

Freelance Marketplace Fiverr files for IPO

Fiverr International Ltd. today announced that it has publicly filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (“SEC”) relating to a proposed initial public offering of its ordinary shares. The number of shares to be offered and the price range for the offering have not yet been determined. Fiverr intends to list its ordinary shares on the New York Stock Exchange under the ticker symbol “FVRR.” J.P. Morgan Securities LLC and Citigroup Global Markets Inc. will act as lead joint book-running managers for the proposed offering. The company however, which is headquartered in Israel, is losing money — its net losses grew from $19.3 million in 2017 to $36.1 million in 2018. At the same time, revenue grew by nearly 45%, from $52.1 million to $75.5 million. The company will need to grow faster if it expects to become profitable. They will join Upwork as the second freelance site to go public.