Fiverr completely changed the way business is done online.
After launching in 2010, Fiverr’s growth has skyrocketed and the company reached a massive $337.4 million in revenue in 2022 – making it the second-largest freelance marketplace in the world.
Not bad, right?
Fiverr’s popularity stems from its ability to provide an:
…Platform where clients can easily access a wide range of high-quality freelance services. Within minutes you can find the perfect Freelancer for almost any online task.
But the online world moves fast.
And despite Fiverr’s success, there are a lot of challenges ahead…
In this blog, we will look at the latest statistics about Fiverr users and see what the future will likely look like for the popular marketplace.
What Will I Learn?
Fiverr has almost become a household name in the Freelance and business world. These are the key Fiverr statistics you need to know:
The truth is that Fiverr is a dominant platform in the freelance marketplace industry. After launching in 2010, it has continued to grow in users – both sellers and buyers.
Fiverr now has over 4.3 million active buyers from more than 160 countries worldwide. Fiverr considers active buyers as someone who purchased a service (called a “gig”) anytime over the last year.
Here’s a breakdown of how active buyers Fiverr has had since 2017:
|Year||Fiverr Active Buyers|
From 2021 to 2022, Fiverr saw just a 0.3% growth in active users yearly. But from 2020 to 2021, they experience a massive 45.53% increase.
Since they started reporting publicly in 2017, Fiverr has been able to increase its active buyers by about 2.4x.
This shows very strong growth for the online marketplace.
But the big question is – will it continue?
There is no doubt that coming out of the COVID-19 pandemic, Fiverr’s growth has slowed. This isn’t necessarily bad, but a slowing active buyer growth rate could mean that the company’s overgrowth is starting to slow.
Fiverr has developed a powerful app that allows buyers and sellers to manage their day-to-day needs without ever needing to visit the platform’s desktop version.
This app is available on both Google Play Store and Apple App Store.
The Fiverr app has been downloaded more than 10+ million times on the Google Play Store. While Apple doesn’t publish its download numbers, it’s estimated to have been downloaded over 8+ million times from the Apple App Store.
Here’s an overview of Fiverr’s ratings and reviews for both apps in the US:
|US App Store||Total Reviews||Review Rating|
|Apple App Store||439,300||4.9/5|
|Google Play Store||311,000||4.6/5|
In March 2021, the Fiverr app was downloaded 900 thousand times across both the Google Play Store and Apple App Store. 600 thousand of those monthly installs came from the Google Play Store alone.
Fiverr is the 2nd most popular freelance marketplace app on both App Stores.
The 1st is currently UpWork, which is considered to be the biggest freelance marketplace in the world.
On the Apple App Store, Fiverr is currently ranked 25th in the Business category in the US.
One of the most essential metrics for Fiverr is the average amount that Fiverr users spend on the platform.
The good news for Fiverr is that it has continued to grow year-over-year.
In 2022, buyers spent an average of $262 on the platform.
This represented an 8% increase over the previous year and showed consistent growth in average user spend.
Here’s the full breakdown of average users’ spend since 2012:
|Year||Spend peer Buyer|
This is good news for Fiverr because it has shown good growth in buyer spending for over 10+ years.
But that’s not all…
Buyers who spent over $500 accounted for an impressive 58% of Fiverr’s core marketplace revenue.
This shows how important high-spending accounts are in driving Fiverr’s overall revenue.
Below is the percentage of how much accounts that spend $500+ annually on Fiverr’s platform have contributed to their annual revenue over the last few years:
The buyer accounts that spend more than $10,000+ annually on Fiverr grew by 30% from 2021.
The key to Fiverr’s growth over the next few years could be focusing on their big accounts – Not just trying to acquire more Fiverr users in general.
There are a lot of different freelance services.
That means that a significant freelance marketplace like Fiverr needs to have a lot of categories. When Fiverr launched, they had just 8 service categories.
But what about today?
Fiverr now has over 600+ categories across 9 broad verticals for freelancers to offer services.
The latest addition to their categories is AI services. This is expected to become a large freelance service and category in the future.
The 9 broad verticals on Fiverr are:
Part of the success of Fiverr is the ability of the marketplace to continually adapt to new technology and changes in freelance/business needs.
An excellent example of this is the launch of Fiverr Pro in 2017.
Fiverr Pro focuses on providing access to vetted talent and freelancers who have proven themselves to be experts in their field.
Freelancers who are certified as Fiverr Pro typically charge higher fees than regular sellers.
Offering both “pro” and “regular” services means that Fiverr has been able to cater to different Fiverr user needs and buyers with different budgets.
This ultimately allows them to capture a bigger portion of the market – both on the buyer and seller side.
The proof is in the pudding.
And the pudding, in Fiverr’s case, is their overall revenue and profitability.
How much money does Fiverr make?
In 2022, Fiverr generated a total of $337.4 million in revenue with a 13.3% year-over-year increase.
The truth is that Fiverr has only ever grown in terms of revenue since they launched.
Here is a breakdown of their revenue year over year:
|Year||Fiverr Annual Revenue|
But how does Fiverr make money?
Fiverr primarily generates revenue through transaction-related fees.
When buyers place an order, they pay Fiverr the “gig” price plus a 5% transaction fee (with a minimum of $2).
When the order is completed, Fiverr charges the seller a 20% service fee.
That means if the seller charges $100 for the service…
This is a clever model because the seller only pays fees when making money.
Most sellers and buyers don’t mind paying the extra fees because Fiverr offers a lot of value in ensuring both the buyer and seller are happy with the transaction.
Repeat buyers are essential in any business.
63% of Fiverr’s revenue was generated by repeat buyers in 2022 and just 37% from new buyers.
The revenue from repeat buyers has consistently grown since Fiverr started reporting these figures in 2017.
Here’s the percentage of revenue from repeat buyers year over year since 2017:
|Year||Percentage Of Revenue From Repeat Buyers|
These Fiverr statistics show that the company has successfully built a loyal customer base that consistently uses the platform to get work done.
But that’s not all…
A big reason for Fiverrs’s success with repeat buyers is by getting sellers to provide good services and support in the first place.
Think about it:
If you hire someone to do a job and they perform well, the next time you need a job done, you wouldn’t go anywhere else, right?
Fiverr is so serious about repeat buyers they even developed a repeat buyer score for sellers.
Essentially the higher your repeat business score, the more traffic and customers Fiverr will send to your “gig” page on the platform.
You also get a unique repeat buyer badge to help your listing stand out in the search results.
A higher repeat buyer score also means the seller can typically charge more and ultimately make more money on the platform.
This is a big motivator for sellers to get repeat customers while providing excellent service!
Most of Fiverr’s revenue comes from just a few countries.
70% of their revenue comes from buyers in the major English-speaking countries, including-
These countries have consistently made up the same percentage of revenue since 2017 when Fiverr went public and first reported the data.
But the United States definitely contributes the most money overall.
53.14% of Fiverr’s annual revenue comes from US buyers alone. This amounted to an impressive $100.7 million in 2020.
The growth rate of Fiverr’s US revenue was 73.8% in 2020, aligning with its global revenue growth of 77%.
Below is a table showing the revenue generated from the United States alone from 2017 to 2020.
|Year||US Revenue (share of total revenue)|
|2017||$28.26 million (54.23%)|
|2018||$40.53 million (53.68%)|
|2019||$57.94 million (54.11%)|
|2020||$100.7 million (53.14%)|
We couldn’t find accurate data for 2021 and 2022.
The consistency in revenue generated from the US has been stable, despite the actual amount of revenue growing significantly over time.
Europe also plays a significant role in Fiverr’s revenue.
In 2020, the European region generated $48.33 million of Fiverr’s revenue in 2020. This works out to be about 25.5% of the platform’s total revenue.
European revenue growth in 2019 was 91.94%, surpassing the global growth rate of 77%.
|Year||Europe Revenue (share of total revenue)|
|2017||$10.14 million (19.46%)|
|2018||$15.26 million (20.21%)|
|2019||$25.18 million (23.52%)|
|2020||$48.33 million (25.5%)|
Since 2017, Europe’s share in Fiverr’s revenue has consistently increased, starting at just 19.46% in that year.
While Fiverr is a global company, most of their revenue is from English-speaking countries.
There is a huge push from executives to focus on and grow the European region because most European countries’ economies are primarily service-based.
The Asia Pacific region is another substantial contributor to Fiverr’s revenue, providing $22.81 million or 12.04% of the total revenue in 2020.
Revenue in this region showed an increase of 70.73% from the previous year.
|Year||Asia-Pacific Revenue (share of total revenue)|
|2017||$7.84 million (15.04%)|
|2018||$11.08 million (14.67%)|
|2019||$13.36 million (12.48%)|
|2020||$22.81 million (12.04%)|
As you can see – the Asia-Pacfic region has slowly been decreasing.
Although it’s only a few percentage points, it’s still an important part of Fiverr’s overall revenue.
Fiverr is headquartered in Israel and tracks revenue generated from Israel separately to the rest of the world.
In 2020, Israel-based buyers contributed just $1.94 million, which is about 1.02% of the company’s annual revenue.
|Year||Israel Revenue (share of total revenue)|
|2018||$1.16 million (1.54%)|
|2019||$1.22 million (1.14%)|
|2020||$1.94 million (1.02%)|
Israel only makes up a small portion of Fiverr’s revenue, but the company is continuously working to improve the freelance market across its home country.
This brings us to the end of all the latest Fiverr user statistics.
The big takeaway is that Fiverr is still one of the most popular freelance marketplaces in the world and will not change anytime soon.
The Fiverr user base has now grown to over 4.3 million buyers and has been increasing yearly.
In just 15 minutes, buyers and sellers can agree on terms and get to work.
This efficiency makes Fiverr the perfect platform in a fast-paced, digital-focused world.
And the gig economy is only expected to grow exponentially over the next 10 years. Fiverr is positioned perfectly to capture a considerable portion of this growing market.
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