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Upwork: Difference between revisions
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=== Overview of the Company === | === Overview of the Company === | ||
Upwork is one of the largest companies that connects freelancers and clients. It was formed in 2013 through a merger between oDesk and Elance<ref>https://www.upwork.com/press/releases/odesk-and-elance-announce-merger-2</ref>. However, it was in 2015 that Elance-oDesk rebranded to Upwork<ref>https://techcrunch.com/2015/05/05/elance-odesk-rebrands-as-upwork-debuts-slack-like-chat-platform/</ref>. Upwork went public in 2018, raising $187 million at around $1.5 billion valuation<ref>https://www.cnbc.com/2018/10/03/upwork-ceo-on-ipo-day-we-do-not-incentivize-for-less-pay-for-freelancers.html</ref>. Its initial founders who include Odysseas Tsatalos, Stratis Karamanlakis, Beerud Sheth, Sanjay Noronha, and Srini Anumolu are no longer with the company<ref>https://morganoverholt.com/upwork-founder/</ref>. As of December 2021, Upwork had 650 employees. Throughout 2021, the company also employed | Upwork is one of the largest companies that connects freelancers and clients. It was formed in 2013 through a merger between oDesk and Elance<ref>https://www.upwork.com/press/releases/odesk-and-elance-announce-merger-2</ref>. However, it was in 2015 that Elance-oDesk rebranded to Upwork<ref>https://techcrunch.com/2015/05/05/elance-odesk-rebrands-as-upwork-debuts-slack-like-chat-platform/</ref>. Upwork went public in 2018, raising $187 million at around $1.5 billion valuation<ref>https://www.cnbc.com/2018/10/03/upwork-ceo-on-ipo-day-we-do-not-incentivize-for-less-pay-for-freelancers.html</ref>. Its initial founders who include Odysseas Tsatalos, Stratis Karamanlakis, Beerud Sheth, Sanjay Noronha, and Srini Anumolu are no longer with the company<ref>https://morganoverholt.com/upwork-founder/</ref>. As of December 2021, Upwork had 650 employees. Throughout 2021, the company also employed 1,800 freelancers to perform internal duties<ref>https://investors.upwork.com/static-files/f9770045-d71e-48c5-a793-20ccde8be73f</ref>. The company is headquartered in California, United States. | ||
The marketplace posts over 10,000 skills and more than 90 job categories, engaging in over 3 million jobs annually<ref>https://investors.upwork.com/static-files/28d7a49a-75bd-4eb9-b57f-96b0ec3ed378 page.3</ref>. Its client base constitutes primarily small and medium businesses(SMBs). In fact, Upwork generates more than 80% of its gross service volume(GSV) from SMBs<ref>https://investors.upwork.com/static-files/d4ef2d59-4aaa-45f9-909e-8638164f88da page.8</ref>. At the end of Q3 2022, Upwork had 818,000 active clients<ref>https://investors.upwork.com/static-files/b5ef19da-22d6-4701-a36b-aa86cb398a6b#:~:text=Our%20overall%20take%20rate%20in,quarter%20of%20the%20prior%20year. page.12</ref>. Some of its clients include Microsoft, Genesys, Godaddy, Corel, Coty, etc<ref>https://investors.upwork.com/static-files/d4ef2d59-4aaa-45f9-909e-8638164f88da page.8</ref>.[[File:Upwork Revenue breakdown.png|thumb|345x345px|https://investors.upwork.com/static-files/c737834a-5f46-46d9-8388-2857a82dbee8]] | The marketplace posts over 10,000 skills and more than 90 job categories, engaging in over 3 million jobs annually<ref>https://investors.upwork.com/static-files/28d7a49a-75bd-4eb9-b57f-96b0ec3ed378 page.3</ref>. Its client base constitutes primarily small and medium businesses(SMBs). In fact, Upwork generates more than 80% of its gross service volume(GSV) from SMBs<ref>https://investors.upwork.com/static-files/d4ef2d59-4aaa-45f9-909e-8638164f88da page.8</ref>. At the end of Q3 2022, Upwork had 818,000 active clients<ref>https://investors.upwork.com/static-files/b5ef19da-22d6-4701-a36b-aa86cb398a6b#:~:text=Our%20overall%20take%20rate%20in,quarter%20of%20the%20prior%20year. page.12</ref>. Some of its clients include Microsoft, Genesys, Godaddy, Corel, Coty, etc<ref>https://investors.upwork.com/static-files/d4ef2d59-4aaa-45f9-909e-8638164f88da page.8</ref>.[[File:Upwork Revenue breakdown.png|thumb|345x345px|https://investors.upwork.com/static-files/c737834a-5f46-46d9-8388-2857a82dbee8]] | ||