Bessemer and Accel-backed freelance marketplace startup Fiverr has filed to go public
This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? .
Fiverr, an Israeli startup backed by Bessemer Venture Partners and Accel, has filed to go public on the New York Stock Exchange under the ticker "FVRR."
The IPO is led by JPMorgan and Citigroup.
Fiverr, which was last valued at $262 million in 2015, is a marketplace for freelancers to match up with potential employers. The platform touts an array of creative projects, such as voice-over work, translations and illustrations.
Bloomberg previously reported that Fiverr would seek a valuation of $800 million in its IPO.
The company is backed by Bessemer Venture Partners, which led a seed round for the company, along with Accel. It has raised $110 million in venture funding since it was founded, according to PitchBook.
The company has a Service-as-a-Product business model, in which the company makes money on service and transaction fees between freelancers and employers, who use the platform for payment of services.
In its registration filing, Fiverr reported $75.5 million in revenue for calendar year 2018, up 44.9% from $52 million in 2017. The company lost $36 million in 2018, compared to $19 million in 2017.
Fiverr is the latest Israeli company to look to the US markets to IPO in a year of multi-billion dollar tech deals.
Tufin, an Israeli cybersecurity company,started trading in April on the New York Stock Exchange.
The Israel payments company Payoneer has reportedly hired a bank for a possible IPO, and the cloud company Zerto is reportedly considering its own listing in New York.
Visit Markets Insider for constantly updated market quotes for individual stocks, ETFs, indices, commodities and currencies traded around the world. Go Now!
Read next
Becky Peterson was formerly a tech features correspondent focused on long-form profiles and investigations into the most interesting people and companies at the intersection of technology and finance.She's broken news on major tech stories including Palantir's work on Project Maven, Peter Thiel's $18 million estate in Miami (which was once featured on MTV's 'The Real World'), Jeffrey Epstein's tour of SpaceX, and Uber CEO Dara Khosrowshahi's insistence that employees take "the D."Previously, she covered enterprise tech and tech investment banking with a focus on M&A, IPO and venture capital deals in San Francisco. She graduated from New York University with a master's degree in media, culture and communication with an emphasis on technology and society. ExpertiseSilicon Valley, Venture Capital, Investment Banking, Jeffrey Epstein, Ghislaine MaxwellPopular articlesInside the turmoil at the Bill & Melinda Gates Foundation, where employees say divorce, Epstein, and vaccines have left some staffers polishing their résumésThe secret life of Ian Osborne, the shadowy 38-year-old cofounder of Chamath Palihapitiya's SPAC who has built the ultimate black book of billionairesSilicon Valley VCs are at war with the 'far left radicals' running CaliforniaInside the life of Ghislaine Maxwell's secret husband, a once-high-flying tech entrepreneur backed by Eric Schmidt who is now a central figure in one of the country's most high-profile legal casesRent the Runway CEO Jennifer Hyman, one of the most successful female founders, is fighting to save her companyJeffrey Epstein set Elon Musk's brother up with a girlfriend in effort to get close to the Tesla founder, sources sayA drunken late-night assault allegation has roiled the secretive world of Mark Zuckerberg's private family office. Personal aides are speaking out about claims that household staff endured sexual harassment and racism from their colleagues.
This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? .