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Fiverr Opens For Trade Well Above IPO Price

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Fiverr Opens For Trade Well Above IPO Price

Fiverr International Ltd (NYSE: FVRR) shares opened for trade Thursday morning at $26. The IPO of over 5 million shares was priced at $21 per share. The stock is trading on the NYSE under the symbol FVRR.

The lockup period on Fiverr is 180 days. This is a contractual restriction preventing insiders who acquired shares of a company's stock before it went public from selling the stock for a stated period of time after it goes public.

JPMorgan, Citigroup, Bank of America Merrill Lynch and UBS are the lead underwriters for the offering.

See Also: Fiverr IPO: What You Need To Know

The Company

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Founded in 2010 with the idea of providing a platform for people to buy and sell digital services. It has a digital marketplace, with a comprehensive SKU-like services catalog and a "find-and-order" process for connecting businesses and freelancers.

Fiverr reported revenue of $75.503 million in the fiscal year ended in December, up from $52.112 million one year ago. For the quarter ended March, the company posted revenue of $23.763 million.

The company has been consistently making losses, with the loss widening from $3.04 per share in 2017 to $5.42 per share in 2018. For the March quarter, it reported a loss of $1.26.

Fiverr traded around $26.38 per share at time of publication.

Posted-In: News IPOs Best of Benzinga

 

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