In wake of Covid-19 windfall, Fiverr to raise $700 million at $10 billion valuation
As the employment market fell into disarray, the freelancer marketplace platform thrived, reaching 77% growth
Sophie Shulman | 13:08 03.03.2021
Nasdaq-traded and Israeli founded online gig marketplace Fiverr Int. Ltd. is in the process of raising $700 million dollars in a follow-on offering after its stock price spiked nearly tenfold over the past year. Shares of the online platform that connects freelancers and solopreneurs of all sorts to employers are currently being traded at roughly $280, reflecting an enterprise value of $10 billion. J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC , Wall Street’s biggest investment banks, are acting as book-running managers for the proposed offering. The proposed public offering comes on the heels of the 460 million senior convertible notes offering last October, leaving it with more than $700 million in its coffers.