February 14, 2019 / 4:30 PM / a year ago

Israeli freelance website Fiverr picks Citi, JPMorgan to manage U.S. IPO - Bloomberg

Feb 14 (Reuters) - Israel’s freelance marketplace Fiverr International Ltd has hired Citigroup and JPMorgan Chase to underwrite its initial public offering in the United States, Bloomberg reported on Thursday, citing people familiar with the matter.

The Tel Aviv-based company could be valued at roughly $800 million, and sell shares in the second half of the year, although no final decision has been made, Bloomberg said bloom.bg/2E9oRwK.

Founded in 2010, the freelance services platform allows users to connect with professionals offering nearly 3 million services from video editing to essay writing, across 196 countries.

The company has raised $111 million in over five funding rounds so far from investors including Square Peg Capital, Qumra Capital, Bessemer Venture and Accel. Its latest Series D funding round was on Nov. 11, 2015, according to data provider Crunchbase.

Fiverr’s annual revenue was $13.6 million, according to company insights provider Owler. Its closest competitors include Upwork, Freelancer Technology and WorkMarket.

Fiverr, JPMorgan and Citigroup did not immediately respond to Reuters’ request for comment.

Reporting By Aparajita Saxena in Bengaluru; Editing by Shinjini Ganguli

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