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Upwork also acts as a staffing firm. It contracts freelancers to complete jobs for certain clients and pays them on their behalf. Once the task is completed, the client pays Upwork. In Q3 2022, managed services revenue accounted for 8.23% of its total revenue<ref name=":2" />. | Upwork also acts as a staffing firm. It contracts freelancers to complete jobs for certain clients and pays them on their behalf. Once the task is completed, the client pays Upwork. In Q3 2022, managed services revenue accounted for 8.23% of its total revenue<ref name=":2" />. | ||
[[File:Upwork Market Share.png|thumb| | [[File:Upwork Market Share.png|thumb|212x212px|https://seekingalpha.com/article/4447421-upwork-perfectly-priced-reflecting-slowing-revenue-growth]] | ||
== Upwork Market Share == | == Upwork Market Share == | ||
According to a 2020 research report by Khaveen Investments, the market share controlled by major freelance companies is still small. This means that platforms that put up measures to capture additional market share can do so easily. The report indicated that Upwork is a global market leader with a 9% market share. However, it is followed closely by TopTal and Fiverr, which controlled 8% and 5% market share, respectively<ref>https://seekingalpha.com/article/4447421-upwork-perfectly-priced-reflecting-slowing-revenue-growth</ref>. | According to a 2020 research report by Khaveen Investments, the market share controlled by major freelance companies is still small. This means that platforms that put up measures to capture additional market share can do so easily. The report indicated that Upwork is a global market leader with a 9% market share. However, it is followed closely by TopTal and Fiverr, which controlled 8% and 5% market share, respectively<ref>https://seekingalpha.com/article/4447421-upwork-perfectly-priced-reflecting-slowing-revenue-growth</ref>. | ||
== Upwork Management == | == Upwork Management == | ||