OverviewSuggest Edit

Upwork (formerly Elance-oDesk) is a company operating a freelancing platform. It enables businesses to access a network of professionals in the areas of web and mobile development, design and creative, writing, virtual assistants, customer service, as well as sales and marketing, accounting and consulting. The platform also provides a timesheet application that tracks time and takes screenshots while the freelancer is working.

TypePublic
Founded2015
HQSanta Clara, US
Websiteupwork.com
Employee Ratings4

Latest Updates

Employees (est.) (Dec 2019)570(+33%)
Job Openings55
Revenue (FY, 2019)$300.6 M(+19%)
Share Price (Oct 2020)$20.1
Cybersecurity ratingCMore

Key People/Management at Upwork

Hayden Brown

Hayden Brown

President and CEO, Director
Brian Levey

Brian Levey

Chief Business Affairs and Legal Officer
Daphne Li

Daphne Li

SVP, Enterprise
Jessica Tiwari

Jessica Tiwari

Senior Vice President of Product
Zoe Harte

Zoe Harte

Senior Vice President, Human Resources and Talent Innovation
Lars Asbjornsen

Lars Asbjornsen

Senior Vice President, Marketing
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Upwork Office Locations

Upwork has offices in Santa Clara, Chicago and San Francisco
Santa Clara, US (HQ)
2625 Augustine Dr #601
Chicago, US
525 W Van Buren St #1100
San Francisco, US
475 Brannan St #430, San Francisco
Show all (3)

Upwork Financials and Metrics

Upwork Revenue

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View revenue for all periods
Upwork's revenue was reported to be $300.56 m in FY, 2019
USD

Revenue (Q2, 2020)

87.5m

Gross profit (Q2, 2020)

62.1m

Gross profit margin (Q2, 2020), %

71%

Net income (Q2, 2020)

(11.0m)

EBIT (Q2, 2020)

(11.0m)

Market capitalization (16-Oct-2020)

2.4b

Closing stock price (16-Oct-2020)

20.1

Cash (30-Jun-2020)

76.8m

EV

2.4b
Upwork's current market capitalization is $2.4 b.
Annual
USDFY, 2016FY, 2017FY, 2018FY, 2019

Revenue

164.4m202.6m253.4m300.6m

Revenue growth, %

23%25%

Cost of goods sold

62.6m65.4m81.5m88.1m

Gross profit

101.9m137.1m171.9m212.4m
Quarterly
USDQ1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020

Revenue

46.7m48.8m52.3m59.2m62.7m64.1m68.9m74.3m78.8m83.2m87.5m

Cost of goods sold

15.0m15.9m16.9m19.6m20.5m20.5m21.1m21.6m22.5m23.5m25.4m

Gross profit

31.7m32.9m35.4m39.6m42.2m43.6m47.8m52.7m56.3m59.7m62.1m

Gross profit Margin, %

68%67%68%67%67%68%69%71%71%72%71%
Annual
USDFY, 2016FY, 2017FY, 2018FY, 2019

Cash

27.3m21.6m129.1m48.4m

Accounts Receivable

25.3m30.8m22.3m30.2m

Prepaid Expenses

4.1m4.6m6.3m7.9m

Current Assets

116.6m144.1m255.9m280.6m
Quarterly
USDQ2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020

Cash

31.3m27.1m49.2m67.1m71.2m65.6m76.8m

Accounts Receivable

36.8m41.6m48.3m51.4m32.0m35.3m33.2m

Prepaid Expenses

5.2m5.3m6.7m6.6m7.6m8.4m9.0m

Current Assets

154.9m181.5m296.3m305.8m285.8m312.5m318.2m
Annual
USDFY, 2016FY, 2017FY, 2018FY, 2019

Net Income

(16.2m)(4.1m)(19.9m)(16.7m)

Depreciation and Amortization

8.5m4.2m4.9m

Accounts Payable

(578.0k)74.0k1.6m(1.5m)

Cash From Operating Activities

3.1m(4.0m)13.7m1.1m
Quarterly
USDQ2, 2017Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020

Net Income

1.4m(7.2m)(14.5m)(4.7m)(6.8m)(9.6m)(10.0m)(21.0m)

Depreciation and Amortization

2.1m2.3m3.5m1.5m2.8m4.5m

Accounts Payable

669.0k261.0k5.0m(596.0k)(589.0k)697.0k994.0k4.4m

Cash From Operating Activities

9.1m10.4m(8.2m)(29.4m)(27.8m)2.0m(1.7m)6.7m
USDFY, 2016

Debt/Equity

-0.6 x

Debt/Assets

0.1 x

Financial Leverage

-8.3 x
Show all financial metrics

Upwork Acquisitions / Subsidiaries

Company NameDateDeal Size
Elance
Elance Limited
Upwork Escrow
Upwork Global Inc
Upwork Talent Group

Upwork Cybersecurity Score

Cybersecurity ratingPremium dataset

C

74/100

SecurityScorecard logo

Upwork Revenue Breakdown

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Upwork revenue breakdown by business segment: 11.7% from Managed services and 88.3% from Marketplace

Upwork revenue breakdown by geographic segment: 24.7% from United States, 15.6% from India, 10.4% from Philippines and 49.2% from Rest of world

Upwork Online and Social Media Presence

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Upwork News and Updates

Upwork To Report Third Quarter 2020 Financial Results on November 4, 2020

Event to be Webcast Live on the Upwork Investor Relations Website Event to be Webcast Live on the Upwork Investor Relations Website

Self-employed professionals who've made over $100,000 on Upwork reveal how they built lucrative businesses in just a few years on the freelancing platform

Summary List Placement Three and a half years ago, I quit a job that I'd grown to hate to pursue a career as a full-time freelancer and business owner.  It was my brother-in-law who initially introduced me to freelancer marketplace Upwork. But the road to building a successful and lucrative living …

CORRECTION - Upwork To Present at Upcoming Investor Conferences

Events to be Audio Webcast on the Upwork Investor Relations Website Events to be Audio Webcast on the Upwork Investor Relations Website

The 20 fastest-growing skills in the freelance job market, according to Upwork — and the online courses you can take to learn them

  Freelancing is a competitive field, and without face-to-face interactions, it can be disproportionately difficult to discern what employers want from you. Upwork, the world's largest freelancing site, compiled a list of the 20 fastest-growing skills in the freelance job market. Below are the 20 …

Upwork stock falls despite continued shift to remote work

Shares of Upwork Inc. fell more than 10% in the extended session Tuesday after the freelancer platform reported a second-quarter GAAP per-share loss that matched Wall Street consensus and sales that were above expectations. Upwork said it lost $11 million, or 9 cents a share, in the quarter, compar…

Why the Upwork CEO believes the pandemic will lead to more work with freelancers

Hayden Brown believes that the drastic shift to remote work will accelerate the conversation around how companies build their workforce.
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Upwork Blogs

The New American Job | News

View Upwork's latest news, features, and mentions in The Wall Street Journal, Forbes, CNBC, Yahoo! Finance, and more.

The Elance Interview – The Elance you probably didn’t know | News

View Upwork's latest news, features, and mentions in The Wall Street Journal, Forbes, CNBC, Yahoo! Finance, and more.

Follow the talent | News

View Upwork's latest news, features, and mentions in The Wall Street Journal, Forbes, CNBC, Yahoo! Finance, and more.

Web 2.0 Outsourcing Humor | News

View Upwork's latest news, features, and mentions in The Wall Street Journal, Forbes, CNBC, Yahoo! Finance, and more.

Elance Taps Growing Demand for Freelancers | News

View Upwork's latest news, features, and mentions in The Wall Street Journal, Forbes, CNBC, Yahoo! Finance, and more.

Get Rich Slow | News

View Upwork's latest news, features, and mentions in The Wall Street Journal, Forbes, CNBC, Yahoo! Finance, and more.
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Upwork Frequently Asked Questions

  • When was Upwork founded?

    Upwork was founded in 2015.

  • Who are Upwork key executives?

    Upwork's key executives are Hayden Brown, Brian Levey and Daphne Li.

  • How many employees does Upwork have?

    Upwork has 570 employees.

  • What is Upwork revenue?

    Latest Upwork annual revenue is $300.6 m.

  • What is Upwork revenue per employee?

    Latest Upwork revenue per employee is $527.3 k.

  • Who are Upwork competitors?

    Competitors of Upwork include Fiverr, Workana and PeoplePerHour.

  • Where is Upwork headquarters?

    Upwork headquarters is located at 2625 Augustine Dr #601, Santa Clara.

  • Where are Upwork offices?

    Upwork has offices in Santa Clara, Chicago and San Francisco.

  • How many offices does Upwork have?

    Upwork has 3 offices.