FVRR - Many Investors Think Artificial Intelligence Is a Threat to Fiverr's Business But It Could Be a Major Growth Catalyst in 2024
2024-02-16 06:20:00 ET
Israeli company Fiverr International (NYSE: FVRR) offers an online marketplace for freelance workers. If someone needs document editing, custom artwork, or video editing, they can browse through services listed by freelancers on Fiverr's marketplace.
Or they can get these services from an application that uses generative artificial intelligence (AI).
This is increasingly the dilemma for Fiverr: The rise of powerful generative AI apps would seem to upend its business model entirely. And this perceived existential threat to its business is part of the reason that its stock has dropped to near an all-time low (cheap) valuation , as the chart below shows.
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Many Investors Think Artificial Intelligence Is a Threat to Fiverr's Business, But It Could Be a Major Growth Catalyst in 2024