Micha Kaufman is the Founder and CEO of Fiverr (NYSE: FVRR). Operating in over 160 countries, Fiverr offers a platform to connect businesses with over 1 million freelancers.
For our readers unfamiliar with Fiverr, can introduce Fiverr to our readers as well as your company's mission?
Fiverr's mission ever since it started back in 2010 is to change the way people work together. We have created what today is, the world's largest marketplace for digital services, connecting businesses of all sizes with a global freelance talent network.
The novelty behind Fiverr's unique approach is making the experience of buying a digital service as easy as shopping on Amazon. Fiverr has productized services and created a catalog with over 450 SKUs, making the task of getting something done using a freelancer as easy as browse, search and click to order--we call this our "service-as-a-product" model.
This e-commerce system allowed Fiverr to develop a proprietary digital service catalog, a sophisticated matching, quality and liquidity engine powered by years of transaction data, a highly efficient and scalable marketing infrastructure, and a global brand and community with millions of buyers and sellers. These allowed us to execute and grow with tremendous momentum in 2020 and expand our leadership position during a time when businesses and freelancers needed us the most in terms of digital transformation and income opportunities.
Since the beginning of the year, Fiverr's market cap has grown over 700 percent to reach over 6.5 billion dollars. Can you speak to this growth and how Fiverr has responded to COVID-19?
Remote work has been at the core of our model and COVID-19 has been an accelerating factor in demonstrating the power and efficiency of remote work and delivered the experience to every business in the world. Fiverr has always been a fast-growing business and this year that rapid growth accelerated. Our results speak for themselves and in Q3 this year we delivered 88 percent revenue growth year on year. The ability to access the right remote talent was especially important for companies that needed to make the shift...