It seems like a natural fit: An online portal where companies can hire freelancers; Fiverr is acquiring And Co; a New York City-based startup developing online tools that freelancers can utilize to manage their customer relationships.
For How Much Fiverr Is Acquiring And Co
What’s unexpected is the new price; that Fiverr CEO Micha Kaufman proposes to charge for And Co’s software — completely free.
Kaufman told that many of And Co’s abilities; such as invoicing, are “baked into” the Fiverr marketplace. Nonetheless, “the fact is that the vast majority of freelancing is happening offline” — and Kaufman desires to let those offline relationships; even if they include freelancers who don’t have Fiverr account at all.
Why Is That?
Does that seem a bit too generous? Well, it could be the best way to support the company reach new freelancers; and to develop loyalty among the ones previously on the platform.
Kaufman told he’s trying to take a more “holistic” sense of the freelancer association: “We think this investment in that community is going to serve all of us.” And he noted that And Co is a relatively young and small company (it was founded in 2015); while Fiverr is “raising more money and generating more capital; which allows us to take tools like the tools of And Co and just make them free.”
He continued that even though the software will be accessible for free; Fiverr has “a roadmap for the next few years … and a full commitment to continue investing in it.”
A Bit About And Co
And Co started as a business at the Pre hype incubator; and it grew a $2 million seed round headed by Thrive Capital in 2016. The commercial terms of the acquisition were not revealed; but Kaufman said And Co will remain to operate as a separate brand currently, but, since Fiverr is acquiring And Co; the entire team is joining them.
“Having the opportunity to join the Fiverr team is an extension of AND CO’s original mission of enabling people to focus on the work they love most,” said And Co co-founder and CEO Leif Abraham in the announcement.