Israel’s Fiverr Acquires U.S. E-Learning Company to Provide Education and Training

Fiverr, an Israeli company that connects businesses with freelancers offering digital products and services, purchases US e-learning company to support professional training and education for its global community of buyers and vendors.

In an announcement Thursday, Fiverr said it was buying Seattle-based CreativeLive for an undisclosed amount. The US company will remain a stand-alone organization and retain its team with founder and CEO Chase Jarvis remaining at the helm.

Founded in 2010, CreativeLive has grown as an online platform to offer over 2,000 courses in a variety of creative and business categories such as design, photography, photo editing, marketing, writing creative and social media. The company claims that more than 10 million people have used the platform to “learn new skills for their careers, hobbies and lives.” Classes are offered for a fee or as part of a subscription.

Fiverr’s existing e-learning platform, first launched in 2018, Fiverr Learn, will be integrated with CreativeLive, according to the announcement.

“The future favors people and businesses who can create, innovate and adapt to a rapidly changing world,” Jarvis said in the statement. “At the heart of it all is people’s ability to learn new skills, think creatively, and operate with a growth mindset. Once thought of as “nice to the haves,” we now know these attributes are the key to success in any industry. We are excited to be part of the Fiverr family, expanding our inventory of exciting courses, and increasing economic opportunities for our community, the Fiverr community, and today’s modern workforce.

Fiverr was also founded in 2010, by Israeli entrepreneurs Shai Wininger (also co-founder of Lemonade) and Micha Kaufman. The company went public on the New York Stock Exchange in June 2019 and reached a market capitalization of over $ 6 billion.

“Fiverr is more than just a work platform – we fundamentally believe in supporting the entire independent lifestyle, and that includes vocational education and training,” Kaufman said in the release. “The ability to learn new skills in a rapidly changing work environment and then be able to monetize them is part of Fiverr’s role in driving transformation for buyers and sellers on our platform. “

The acquisition of CreativeLive is part of Fiverr’s larger strategy, Kaufman said.

In a message to the CreativeLive community, Jarvis wrote about a future where “Fiverr’s acquisition of CreativeLive enables anyone learning with CreativeLive to unlock economic opportunities through freelance work on the platform. form of Fiverr. Or conversely, how anyone buying or selling services on Fiverr could benefit from learning new skills on CreativeLive.

“We believe this virtuous circle – pursuing passions, learning new skills and leveraging those skills for economic growth – is the future of work, and our aim is to play a global leadership role in this future,” he added.

Fiverr has seen robust growth over the past two quarters, with Q1 2021 revenue up 100% year-on-year, one of the company’s highest quarterly revenue in history and 60% year-on-year in the second quarter.

The results follow “a year of extraordinary growth” in 2020, when the company’s revenues jumped 77% year-over-year.

“Twelve months after the peak of the COVID-19 pandemic, our business momentum remains strong and sustainable,” the company said in May in a letter to shareholders. Remote working trends dictated by the coronavirus pandemic have pushed businesses online and helped propel demand for corporate services as these companies sought freelancers to help them digitize their offerings.

In August 2020, Fiverr acquired digital marketing agency SLT Consulting, followed by the February 2021 purchase of the Creative Talent Marketplace Working Not Working.

“We are stepping up the pace of investments to make Fiverr a powerhouse that enables more buyers and sellers to participate in the digital services economy,” Kaufman said in August.

The concert economy, as it’s called, has its fair share of supporters and detractors.

In April, US Secretary of Labor Marty Walsh said he believed many self-employed and self-employed workers should be classified as employees who need health and pension benefits, a reversal from policies of the Trump administration. Shares of Uber, Lyft, DoorDash and Fiverr fell after Walsh’s comments. Treating concert workers like employees would increase costs for these companies.

Shoshanna Solomon contributed to this report.

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