Fiverr, an online marketing place where freelancers can be hired, is acquiring AND CO, a New York City startup that helps freelancers manage their client relationships.
Fiverr CEO Micha Kaufman said in a report that Fiverr will be offering AND CO’s online tools for free. The idea is that they will be able to reach more freelancers and increase the loyal base among those who already use the platform. Fiverr is “raising more money and generating more capital, which allows up to take tools like [those] of AND CO and just make them free,” Kaufman told TechCrunch. Kaufman believes that this investment will benefit both users and the company in the future.
Even though Fiverr plans to offer AND CO’s services for free, they will continue to invest in and support the platform over the next few years. TechCrunch has reported that AND CO has raised $2 million in seed funding in 2016.
AND CO will function as a separate brand from Fiverr, and its entire team will be joining Fiverr.
“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 a statement.