Upwork’s Success Is Shaking Up The World Of Online Business

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The Rise Of The Tech Firm

Online tech firms have been finding a lot of success lately – both in the world of business and the world of finance. As companies like Eventbrite, Dropbox, and Spotify find their audience with the unique services and goods they provide, investors in the New York Stock Exchange have begun to take notice. The result has been a massive amount of investment capital and profit for these companies as they continue to innovate and take the business world by storm.

Upwork – What Is It?

One of the aforementioned online business finding massive success recently is Upwork. Upwork Global Inc., formerly known as Elance-oDesk, is a global freelancing platform where independent contractors can collaborate with businesses and other individuals remotely.

Upwork was formed in 2014, after the merge of two companies: Elance and oDesk. These two platforms were very similar to one another, and they both allow clients to request and negotiate jobs remotely from a pool of clients.

Upwork allows freelance work collaboration in many different ways. Freelance writing, graphic design, and web development are some of the services freelancers offer employers on this platform. As this work is done remotely, it offers the convenience of being able to network talented individuals with needy businesses everywhere in the world.

Unprecedented Success

Following the merge of Elance and oDesk into what is now known as Upwork, the company has since seen unprecedented success. Under CEO Stephane Kasriel, Upwork has garnered over $100 million in investor funds. $30 million of these funds came just from the merger alone! Upwork is now tied with a company called Fiverr for being the largest online freelance marketplace on the internet.

In addition to investor funds, Upwork has earned over $225 million in revenue. The company has a gross services volume of approximately $1.5 billion and employs over 375,000 freelance agents servicing over 95,000 clients in 180 countries. Freelancers can choose from over 70 different job categories to work from, ensuring that all manner of trades and skills are available on Upwork for the benefit of clients everywhere.

Sources:

https://www.linkedin.com/company/upwork

https://patch.com/california/san-francisco/upwork-ipo-attracts-investments-tech-market

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