It seems like a pure match: Fiverr, an internet market the place companies can rent freelancers, is buying And Co, a New York Metropolis startup constructing on-line instruments that freelancers can use handle their shopper relationships.
What’s shocking is the brand new value that Fiverr CEO Micha Kaufman plans to cost for And Co’s software program — completely free.
Kaufman defined that lots of And Co’s capabilities, akin to invoicing, are “baked into” the Fiverr market. Nevertheless, “the very fact is that the overwhelming majority of freelancing is going on offline” — and Kaufman needs to allow these offline relationships, even when they contain freelancers who don’t use Fiverr in any respect.
Does that sound a bit too altruistic? Properly, it could possibly be the precise means to assist the corporate attain new freelancers, and to construct loyalty among the many ones already on the platform.
Kaufman stated he’s aiming to take a extra “holistic” view of the freelancer group: “We predict this funding in that group goes to serve all of us.” And he famous that And Co is a comparatively younger and small firm (it was based in 2015), whereas Fiverr is “elevating extra money and producing extra capital, which permits us to take instruments just like the instruments of And Co and simply make them free.”
He added that regardless that the software program will likely be accessible at no cost, Fiverr has “a roadmap for the subsequent few years … and a full dedication to proceed investing in it.”
And Co was began on the Prehype incubator, and it raised a $2 million seed spherical led by Thrive Capital in 2016. The monetary phrases of the acquisition weren’t disclosed, however Kaufman stated And Co will proceed to function as a separate model for now, with the whole crew becoming a member of Fiverr.
“Having the chance to hitch the Fiverr crew is an extension of AND CO’s unique mission of enabling folks to give attention to the work they love most,” stated And Co co-founder and CEO Leif Abraham within the announcement.
Featured Picture: Fiverr