Fiverr : What Are You Willing To Do For $5

Posted by Kris | Sunday, May 06, 2012 | , | 6 comments »




I stumbled upon an interesting US website to earn some pocket money not long ago. Fiverr has been there for some time but i only found it by accident when surfing for outsourcing websites.

Fiverr - I think they wanted to named it as Five, Fiver, without the extra "r" in the first place (probably due to the hardship of securing the domain names). Neverthless, the name is really indicative of what it really offers. 

Fiverr offers people to offer their freelance services for $5. So anyone can literally post up to the site the things that they are willing to do for $5. So below is a simple summary on how it works for the sellers.


1. Sign up on the site
2. Post up a description of what you are willing to do for $5. This is called a GIG .Of course you cannot offer to do something sexual in nature, racial provocative, etc. (so no online escort services allowed, you don't want to end up as one of the unfortunate 48 men in the Singapore call girl scandal)
3. Wait for the Fiverr admin team to approve your GIG.
4. Once approved, just wait for anyone to buy into your GIG. 
5. Once you hit top seller or level2, you can put in more extra services for a given GIG so that you can earn more than just $5.

The business model here is that Fiverr will provide a platform for people to trade services. Fiverr will take $1 out of the $5 for every successfully completed GIG. And the remaining $4 will go to the seller. So Fiverr is actually earning like 20% for every GIG sold. This seems to be a small amount but the sheer amount of traffic and GIGs executed could bring in serious moolah.

The retention period for the money to reach the seller (the remaining $4)of the GIG from the buyer can take up to 14 days. Hence the interest incurred can be a source of income too.

As with many Startups, the earnings of the site is not widely known. But it has received some serious amount of funding from Venture Capitalists (VC).

There is more to read about if you decide to buy some GIGs. See detail info here http://fiverr.com/terms_of_service

Some of the GIGs are damn funny.So just visit that site for a look.




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6 comments

  1. LCF Personal Finance // 4:32 PM  

    Yea, Kris I agree it's pretty interesting. Especially useful if you just want a logo design or a video made professionally (close enough). Very cheap compared to sites like Elance. Some ladies even offer to write your blog URL on their breasts.

  2. Kris // 8:54 PM  

    Yes, very interesting site :D

    I see some of the popular ones earning quite a sum of $$$.

    Oh, i did not manage to see the gig regarding ladies breast..lol. There are some crazy and wacky gigs being offered.

  3. ChampDog // 8:38 PM  

    @Kris, what do you sell?

  4. Kris // 11:00 PM  

    ChampDog,

    I am selling my brain aka my knowledge :P

    How about you?

  5. ChampDog // 11:03 PM  

    I've no idea, that's why asking. :)

  6. Kris // 1:22 AM  

    I guess the GIG need to be very unique if you want to be popular in Fiverr. There are plenty of weird gigs being sold there..lol