Shares of Israeli freelancer online marketplace Fiverr International (FVRR) jumped more than 58% to $33.27 on Thursday, its first day of trading on the New York Stock Exchange.
The company’s initial public offering was priced at $21 per share on Wednesday night, higher than its suggested range between $18 and $20.
The company plans to offer 5.26 million shares and expects to raise more than $110 million in Thursday’s debut. The stock’s first trade Thursday was at $26.
Last year, the company reported $75.5 million in revenue, up from the $52.1 million it took in the year prior. About 57% of that revenue was generated from existing “buyers” with 43% coming from new “buyers.”
However, Fiverr also posted a loss of $36.1 million in 2018 and a loss of $19.3 million in 2017.
The company reported having 255,000 active sellers and 2.1 million active buyers.
In the first quarter of 2019, the company reported losing $8.3 million, about half of the $16.3 million it reported losing a year earlier..
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