Freelancing platform Fiverr is moving in the right direction and delivering six-figure incomes to users as gig economy giants such as Uber and Lyft stumble over exploitation claims by drivers and users.
Like many other online freelancing service platforms, Fiverr connects aspiring freelancers with customers looking for specific services. It’s essentially like Upwork or Freelancer.com but with an edge, according to testimonies.
Several freelancers claim to be making more money on Fiverr than on any other gig platform they’ve tried.
One such user is Carrie French, a product description writer, who said she makes as much as $125,000 annually via Fiverr, while Jennifer Shealey, a former project administrator for a tile company, said she started earning six figures on Fiverr after she lost her job in 2015.
While not all freelancers earn six figures on Fiverr, an increasing number say they can easily earn a living wage.
Here is what you need to know about Fiverr:
Fiver was founded by two Israelis, Micha Kaufman and Shai Wininger, in 2010 and it is based in Tel Aviv, Israel. It was Wininger who developed the original concept for a marketplace that would offer a dual-sided platform for buying and selling digital services.
The catalog of services on Fiverr includes more than 500 categories across nine broad verticals. The platform has added 300 new categories since 2018. When the service was launched in 2010, it had just eight categories. The company introduced Fiverr Pro in 2017 for freelancers who typically charge higher fees than regular sellers.
Freelancers on other sites say that a lot of their time is taken up bidding on projects and providing work samples to potential clients. To solve this, Fiverr does not allow for auctioning or bidding on its platform. Clients view sellers’ profiles and either buy as is or not.
Since there is no bidding or auditioning and the buying-selling process is transparent, freelancers are in complete control over pricing and the limitations of their offers.
Fiverr reported a 100 percent year-on-year revenue growth in Q1 to $68.3 million. It showed increased growth across the board with the number of active buyers rising by 56 percent to 3.8 million. It had less than half this number of active buyers in 2017.
With thousands of freelancers from over 160 countries and more than 500 services on Fiverr, it may take a while before a freelancer gets noticed. Anything from eight months to two years is expected before one can get regular jobs from this platform.
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