fvrr-growth of freelancing

FVRR has recently released the results of a study of freelance usage by businesses.

Fiverr International Ltd. (NYSE: FVRR), the company that is changing how the world works together, is releasing new data commissioned by Fiverr Business that shows bigger businesses are relying on freelance talent more now than prior to the pandemic. Overall 45% of businesses surveyed are using more freelancers than pre-Covid. The bigger the businesses, the more likely they are to tap into freelance talent - 10-49 employees (48%); 50-99 employees (62%) & 100 - 249 employees (64%).

Key survey findings are as follows:

The bigger the business, the more money invested in freelance talent. 65% of businesses surveyed with 100-240 employees are turning to freelancers more now than they were prior to COVID-19.

Businesses with over 100 employees were more likely to have applied and received PPP funding than smaller businesses. 50% of businesses with 100-249 employees say they had received funds from PPP.
Digital marketing and website development were key focus areas for larger businesses during the pandemic. 47% of businesses surveyed with 100-240 employees said they ramped up their digital marketing spend and another 45% said website development was a key priority. Other areas they are investing in include mobile app development (41%) and sales (30%).

Bigger businesses will be looking for more government support during the next crisis. 55% of businesses surveyed with 100-240 employees said they will be looking for more courage from their governments to make bureaucratic changes to help the economy (tax reduction, direct aids, changes in payments, etc.)
Marketplaces were favored over “build your own site” tools. 68% of businesses surveyed with 100-249 employees put money into Amazon to enhance or build their online presence and 45% favored eBay.

The larger the company, the more likely they are to have lasting changes to their team structures and operations because of the pandemic. 53% of companies surveyed with 100-249 employees said that they will have more flexibility and collaboration across disciplines and close to 40% said they will allow more remote work.

Having recently turned in strong quarterly growth , opportunities for FVRR continue to expand.

View the full release here: https://www.businesswire.com/news/home/20210602005263/en/

cheers

draj

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I am long FIVRR and they have an excellent PR team. Of course, the research they funded finds that freelancing is popular with big businesses and getting more popular. I love the story about the girl who made over 300K on FIVRR. That one keeps popping up in my feed as well.

This press release from FIVRR I think it more interesting than these PR stories.

Fiverr crosses $2 billion in gig revenues
https://www.jpost.com/israel-news/fiverr-crosses-2-billion-i…

This strategy is smart as they need to keep the momentum up. LinkedIn was supposed to release a competing product, but I haven’t heard anything about it?

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I hired multiple Freelancer for a Matlab programming Job…None of the cheap Indian or Pakistan could do IT. Even the diverse Level 2 choises could Not Help…then i Switch to upwork…which so basicly the Same and Had great experience and the Job was done. So where is the moat for this kind of Business?

The growth Numbers are great but i never bought one of then.

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