Online marketplace for freelance services Fiverr International Ltd. (FVRR) recently announced the acquisition of an online learning company, CreativeLive. The financial terms of the deal have not been disclosed so far.
Following the news, shares of the company gained 2.5% to close at $181.96 on Thursday.
With over 2,000 classes and 10 million users, CreativeLive offers users a wide range of learning opportunities across creative and business categories, helping them acquire new skills.
Post the buyout, CreativeLive will remain a standalone organization. However, Fiverr’s online learning platform, Fiverr Learn, will be folded into CreativeLive to cater to the needs of learners.
The CEO of Fiverr, Micha Kaufman, said, “The ability to acquire new skills in a rapidly changing work environment and then be able to monetize them is part of Fiverr’s role in leading transformation for buyers and sellers on our platform. The acquisition of CreativeLive is part of this broader strategy. Chase and the team’s expertise in creating compelling learning experiences across industries is a natural fit for us as we scale this part of our business. The depth and caliber of the courses that CreativeLive offers are exceptional and we look forward to offering them to our entire community.” (See Fiverr stock chart on TipRanks)
Last month, RBC Capital analyst Brad Erickson reiterated a Buy rating on the stock with a price target of $200, which implies upside potential of 9.9% from current levels.
Consensus among analysts is a Strong Buy based on 4 unanimous Buys. The average Fiverr price target of $220.50 implies upside potential of 21.2% from current levels. Shares have gained 17.2% over the past year.