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Upwork: Summary of SEC Fillings: Difference between revisions
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* The 2018 Employee Stock Purchase Plan (ESPP) "allows eligible employees to purchase shares of the Company’s common stock at a discount of up to 15% through payroll deductions of their eligible compensation, subject to any plan limitations."<br /> | * The 2018 Employee Stock Purchase Plan (ESPP) "allows eligible employees to purchase shares of the Company’s common stock at a discount of up to 15% through payroll deductions of their eligible compensation, subject to any plan limitations."<br /> | ||
== 2018 SEC Filling == | |||
Below is a summary of Upwork 2018 IPO SEC Filling<ref>https://www.sec.gov/Archives/edgar/data/1627475/000119312518267594/d575528ds1.htm</ref>. | |||
=== GSV, Clients and Freelancers === | |||
* In the 12 months ended June 30, 2018, '''Upwork facilitated "$1.56 billion of GSV across 2.0 million projects between approximately 375,000 freelancers and 475,000 clients in over 180 countries."''' | |||
* Upwork GSV was $1.15 billion and $1.37 billion in 2016 and 2017, respectively(+20% y/y). | |||
* In 2017, '''around 40% of clients engaged freelancers across multiple categories in Upwork platform.''' | |||
* In 2017, '''Upwork had more than 20 categories that each generated over $20 million of GSV.''' | |||
* The medium time to hire freelancers in 2017 was 23 hours. | |||
* '''In 2017, 1,400 clients each spend over $100,000 in the platform and no single client accounted for more than 2% of total spend in the platform.''' | |||
=== Industry Insights === | |||
* McKinsey Global Institute forecasts that "by 2025, online talent platforms could add $2.7 trillion annually, or 2%, to the global gross domestic product, or GDP." | |||
* Upwork 2018 Future Workforce Report found that in 2018, "59% of hiring managers indicated they were leveraging flexible talent, which includes temporary, freelance, and agency workers, up 24% from January 2017." | |||
* A McKinsey Global Institute report found that approximately 11% of jobs could be performed by remote workers. | |||
* According to 2017 State of Telecommuting in the U.S. Employee Workforce report, "the number of telecommuting workers grew 115% in a decade, from approximately 1.8 million in 2005 to approximately 3.9 million in 2015." | |||
== References == | == References == | ||
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