My estimate was $13m for the quarter would show marketplace growth had returned, they hit that (allowing for the currency drag).
Escrow is doing very well. I hope that is due to the API integrations, as that will be sustainable growth that would be fantastic.
The changes to memberships were about moving some users from expensive monthly plans that included lots of free bids to cheaper plans that aligned with their market reality. While the extra revenue from the high plans was welcome, it was bad for buyers as these freelancers made lots of silly bids because it cost them nothing. The current approach is better if your horizon is longer than a quarter.
Iam very pleased to see unambiguous strong growth in gross payment volumes. This is the underlying measure of the marketplace health, and is a forward indicator. You can see the graph on page 10 was flat from late 2016 to the end of 2017. That is is now climbing strongly again is the best news.
FLN Price at posting:
55.0¢ Sentiment: Buy Disclosure: Held
