Sean Emory’s Post

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Founder & CIO at Avory & Co. | Investing where the world is headed.

Great call this am with Fiverr executive team… Main Takes: 1. Lots of confidence on product roadmap to drive growth. Kickstarter and Seller Plus have seen nice uptake. Confidence to further drive SELLER SERVICE take rate (not marketplace take rate). These are seller tools. Also, Dynamic Matching, Pro Catalogs, and Hourly Jobs leading to bigger projects. 2. Ai narrative moving further into the background as they have shown their ability grow and drive margins. Outperforming staffing hiring data by nearly 25%. —-> Ai Benefit: Ai actually allowed Fiverr to move into new formats like Project Briefs and Dynamic Matching with low overhead relative to what would have been required. 3. AutoDS acquisition showing good start. 100% subscription. 4. With $600+ cash and re-affirmed their pace towards $300m FCF over next 36 months (cumulative) it is giving them lots of optionality to build and buy, while giving some back to shareholders via buybacks. 5. Stability in Sept and Oct “not a trend” but they tend to guide conservatively and guide suggests double digit growth exiting 2024. 6. LTV / CAC on new cohorts outperforming even 2021 cohorts. 7. Positioned to play offense when SMB turns positive. There’s more but that’s some…

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