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
HQSan Francisco, CA, US
Websiteupwork.com
Employee Ratings4.2
Overall CultureB

Latest Updates

Employees (est.) (Dec 2021)650(+21%)
Job Openings122
Revenue (FY, 2020)$373.6 M(+25%)
Share Price (May 2022)$18.2(+11%)
Cybersecurity ratingBMore
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Key People/Management at Upwork

Hayden Brown

Hayden Brown

President and CEO, Director
Zoe Harte

Zoe Harte

Chief People Officer
Brian Levey

Brian Levey

Chief Business Affairs and Legal Officer
Eric Gilpin

Eric Gilpin

Chief Sales Officer
Jeff McCombs

Jeff McCombs

Chief Financial Officer
Sam Bright

Sam Bright

Chief Product & Experience Officer
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Upwork Office Locations

Upwork has offices in San Francisco and Chicago
San Francisco, CA, US (HQ)
475 Brannan St #430, San Francisco
Chicago, IL, US
525 W Van Buren St #1100
San Francisco, CA, US
655 Montgomery St suite 490 dept, San Francisco
Show all (3)

Upwork Financials and Metrics

Upwork Revenue

Embed Graph
View revenue for all periods
Upwork's revenue was reported to be $373.63 m in FY, 2020 which is a 24.3% increase from the previous period.
USD

Revenue (Q3, 2021)

128.1m

Gross profit (Q3, 2021)

93.2m

Gross profit margin (Q3, 2021), %

72.7%

Net income (Q3, 2021)

(9.3m)

EBIT (Q3, 2021)

(8.3m)

Market capitalization (13-May-2022)

2.1b

Closing stock price (13-May-2022)

18.2

Cash (30-Sept-2021)

600.1m

EV

1.6b
Upwork's current market capitalization is $2.1 b.
Annual
USDFY, 2018FY, 2019FY, 2020

Revenue

253.4m300.6m373.6m

Revenue growth, %

25%19%24%

Cost of goods sold

81.5m88.1m104.3m

Gross profit

171.9m212.4m269.4m
Quarterly
USDQ1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021

Revenue

68.9m74.3m78.8m83.2m87.5m96.7m113.6m124.2m128.1m

Cost of goods sold

21.1m21.6m22.5m23.5m25.4m26.6m30.4m33.1m34.9m

Gross profit

47.8m52.7m56.3m59.7m62.1m70.2m83.2m91.1m93.2m

Gross profit Margin, %

69%71%71%72%71%73%73%73%73%
Annual
USDFY, 2018FY, 2019FY, 2020

Cash

129.1m48.4m94.1m

Accounts Receivable

22.3m30.2m47.0m

Prepaid Expenses

6.3m7.9m9.1m

Current Assets

255.9m280.6m360.8m
Quarterly
USDQ1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021

Cash

49.2m67.1m71.2m65.6m76.8m88.4m104.3m131.4m600.1m

Accounts Receivable

48.3m51.4m32.0m35.3m33.2m39.9m51.9m62.2m58.2m

Prepaid Expenses

6.7m6.6m7.6m8.4m9.0m8.5m10.7m12.5m12.2m

Current Assets

296.3m305.8m285.8m312.5m318.2m332.0m393.9m412.3m939.9m
Annual
USDFY, 2018FY, 2019FY, 2020

Net Income

(19.9m)(16.7m)(22.9m)

Depreciation and Amortization

4.9m6.7m10.2m

Accounts Payable

1.6m(1.5m)5.8m

Cash From Operating Activities

13.7m1.1m22.4m
Quarterly
USDQ1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021

Net Income

(4.7m)(6.8m)(9.6m)(10.0m)(21.0m)(23.8m)(7.8m)(24.4m)(33.7m)

Depreciation and Amortization

1.5m2.8m4.5m2.3m4.8m7.4m3.2m5.7m8.2m

Accounts Payable

(596.0k)(589.0k)697.0k994.0k4.4m5.1m5.5m2.2m(3.2m)

Cash From Operating Activities

(29.4m)(27.8m)2.0m(1.7m)6.7m13.4m1.9m2.4m23.3m
USDFY, 2018

Revenue/Employee

614.2k

Debt/Equity

0.1 x

Debt/Assets

0.1 x

Financial Leverage

1.6 x
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Upwork Operating Metrics

Show all operating metrics

Upwork Acquisitions / Subsidiaries

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

Upwork Revenue Breakdown

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Upwork revenue breakdown by business segment: 9.5% from Managed services and 90.5% from Marketplace

Upwork revenue breakdown by geographic segment: 8.9% from India, 45.0% from United States, 6.1% from Philippines and 40.0% from Rest of world

Upwork Cybersecurity Score

Cybersecurity ratingPremium dataset

B

81/100

SecurityScorecard logo

Upwork Environment, Social & Governance (ESG) Ratings

CSRHub ESG ratingPremium dataset

50-59

out of 100

CSRHub logo

Upwork Online and Social Media Presence

Embed Graph

Upwork Company Culture

  • Overall Culture

    B

    73/100

  • CEO Rating

    B

    73/100

  • Compensation

    C+

    69/100

  • Diversity

    C-

    65/100

Learn more on Comparably

Upwork News and Updates

Upwork to Participate in Credit Suisse 4th Annual eXtreme Ideas Conference

SAN FRANCISCO, April 14, 2022 (GLOBE NEWSWIRE) -- Upwork Inc. (Nasdaq: UPWK), the world’s largest work marketplace that connects businesses with independent talent, as measured by gross services volume (“GSV”), today announced that Chief Financial Officer Jeff McCombs and VP of Investor Relations …

Upwork to Report First Quarter 2022 Financial Results on April 27, 2022

SAN FRANCISCO, April 04, 2022 (GLOBE NEWSWIRE) -- Upwork Inc. (Nasdaq: UPWK), the world’s largest work marketplace that connects businesses with independent talent, as measured by gross services volume (“GSV”), today announced that it will report its financial results for the first quarter of 2022…

Upwork Announces the Suspension of Business in Russia and Belarus and Withdraws First-Quarter and Full-Year 2022 Guidance due to Uncertainties Related to Russian Invasion of Ukraine

SAN FRANCISCO, March 07, 2022 (GLOBE NEWSWIRE) -- Upwork Inc. (Nasdaq: UPWK), the world’s largest work marketplace that connects businesses with independent talent, as measured by gross services volume (“GSV”), today announced the suspension of all business operations in Russia and Belarus, taking…

Upwork to Present at the JMP Securities Technology Conference

SAN FRANCISCO, Feb. 16, 2022 (GLOBE NEWSWIRE) -- Upwork Inc. (Nasdaq: UPWK), the world’s largest work marketplace that connects businesses with independent talent, as measured by gross services volume (“GSV”), today announced that President and CEO, Hayden Brown, and Chief Financial Officer, Jeff …

Upwork to Report Fourth Quarter and Full Year 2021 Financial Results on February 10, 2022

SAN FRANCISCO, Jan. 10, 2022 (GLOBE NEWSWIRE) -- Upwork Inc. (Nasdaq: UPWK), the world’s largest work marketplace that connects businesses with independent talent, as measured by gross services volume (“GSV”), today announced that it will report its financial results for the fourth quarter and ful…
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Upwork Blogs

Swimming in the Global Talent Pool | News

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

Unemployment, The Economic Downturn and Web Working | News

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

4 steps to prepare your website for ‘Mobilegeddon’ | News

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

Gas gouged? Try telecommuting | News

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

oDesk Has a Deal for Freelancers | News

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

Is freelancing for you? | 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, Zoe Harte and Brian Levey.

  • How many employees does Upwork have?

    Upwork has 650 employees.

  • What is Upwork revenue?

    Latest Upwork annual revenue is $373.6 m.

  • What is Upwork revenue per employee?

    Latest Upwork revenue per employee is $574.8 k.

  • Who are Upwork competitors?

    Competitors of Upwork include WorkMarket, Magic and Fiverr.

  • Where is Upwork headquarters?

    Upwork headquarters is located at 475 Brannan St #430, San Francisco, San Francisco.

  • Where are Upwork offices?

    Upwork has offices in San Francisco and Chicago.

  • How many offices does Upwork have?

    Upwork has 3 offices.