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, CA, US
Websiteupwork.com
Employee Ratings4.1
Overall CultureB

Latest Updates

Employees (est.) (Dec 2019)570(+33%)
Job Openings65
Revenue (FY, 2020)$373.6 M(+25%)
Share Price (May 2021)$43.8(-4%)
Cybersecurity ratingDMore

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
Daphne Li

Daphne Li

SVP, Enterprise
Lars Asbjornsen

Lars Asbjornsen

Senior Vice President, Marketing
Matt McDonald

Matt McDonald

Senior Vice President, Engineering
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Upwork Office Locations

Upwork has offices in Santa Clara, Chicago and San Francisco
Santa Clara, CA, US (HQ)
2625 Augustine Dr #601
Chicago, IL, US
525 W Van Buren St #1100
San Francisco, CA, US
655 Montgomery St #490, 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 $373.63 m in FY, 2020
USD

Revenue (FY, 2020)

373.6m

Gross profit (FY, 2020)

269.4m

Gross profit margin (FY, 2020), %

72.1%

Net income (FY, 2020)

(22.9m)

EBIT (FY, 2020)

(22.4m)

Market capitalization (3-May-2021)

5.5b

Closing stock price (3-May-2021)

43.8

Cash (31-Dec-2020)

94.1m

EV

5.5b
Upwork's current market capitalization is $5.5 b.
Annual
USDFY, 2016FY, 2017FY, 2018FY, 2019FY, 2020

Revenue

164.4m202.6m253.4m300.6m373.6m

Revenue growth, %

23%25%

Cost of goods sold

62.6m65.4m81.5m88.1m104.3m

Gross profit

101.9m137.1m171.9m212.4m269.4m
Quarterly
USDQ1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020

Revenue

46.7m48.8m52.3m59.2m62.7m64.1m68.9m74.3m78.8m83.2m87.5m96.7m

Cost of goods sold

15.0m15.9m16.9m19.6m20.5m20.5m21.1m21.6m22.5m23.5m25.4m26.6m

Gross profit

31.7m32.9m35.4m39.6m42.2m43.6m47.8m52.7m56.3m59.7m62.1m70.2m

Gross profit Margin, %

68%67%68%67%67%68%69%71%71%72%71%73%
Annual
USDFY, 2016FY, 2017FY, 2018FY, 2019FY, 2020

Cash

27.3m21.6m129.1m48.4m94.1m

Accounts Receivable

25.3m30.8m22.3m30.2m47.0m

Prepaid Expenses

4.1m4.6m6.3m7.9m9.1m

Current Assets

116.6m144.1m255.9m280.6m360.8m
Quarterly
USDQ2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020

Cash

31.3m27.1m49.2m67.1m71.2m65.6m76.8m88.4m

Accounts Receivable

36.8m41.6m48.3m51.4m32.0m35.3m33.2m39.9m

Prepaid Expenses

5.2m5.3m6.7m6.6m7.6m8.4m9.0m8.5m

Current Assets

154.9m181.5m296.3m305.8m285.8m312.5m318.2m332.0m
Annual
USDFY, 2016FY, 2017FY, 2018FY, 2019FY, 2020

Net Income

(16.2m)(4.1m)(19.9m)(16.7m)(22.9m)

Depreciation and Amortization

8.5m4.2m4.9m

Accounts Payable

(578.0k)74.0k1.6m(1.5m)5.8m

Cash From Operating Activities

3.1m(4.0m)13.7m1.1m22.4m
Quarterly
USDQ2, 2017Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020

Net Income

1.4m(7.2m)(14.5m)(4.7m)(6.8m)(9.6m)(10.0m)(21.0m)(23.8m)

Depreciation and Amortization

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

Accounts Payable

669.0k261.0k5.0m(596.0k)(589.0k)697.0k994.0k4.4m5.1m

Cash From Operating Activities

9.1m10.4m(8.2m)(29.4m)(27.8m)2.0m(1.7m)6.7m13.4m
USDFY, 2016

Debt/Equity

-0.6 x

Debt/Assets

0.1 x

Financial Leverage

-8.3 x
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Upwork Operating Metrics

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Upwork Acquisitions / Subsidiaries

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

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 Cybersecurity Score

Cybersecurity ratingPremium dataset

D

61/100

SecurityScorecard logo

Upwork Environment, Social & Governance (ESG) Ratings

CSRHub ESG ratingPremium dataset

40-49

out of 100

CSRHub logo

Upwork Online and Social Media Presence

Embed Graph

Upwork Company Culture

  • Overall Culture

    B

    70/100

  • CEO Rating

    B

    72/100

  • Compensation

    C

    63/100

  • Diversity

    C+

    66/100

Learn more on Comparably

Upwork News and Updates

Upwork To Report First Quarter 2021 Financial Results on May 4, 2021

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

I've made $400,000 on Upwork as a freelance graphic designer. Here's how I created the perfect online profile to attract high-quality clients.

Summary List PlacementWhen I left the corporate world behind four years ago to pursue freelancing full time, I knew I had to master the art of landing gigs online. I also knew that utilizing online marketplaces would be crucial to my success. While I tried out a variety of other platforms, includi…

A year into remote work, Upwork findings show the experiment is working

We now have enough empirical evidence to support the benefits of working remotely, according to Upwork’s new The Future of Remote Work report. What a long, strange year it’s been.Read Full Story

Upwork stock jumps after company has best quarter since going public

Shares of Upwork Inc. rallied more than 18% in the extended session Tuesday after the freelancing-work platform reported adjusted fourth-quarter profit and sales well above Wall Street expectations and said it grew the most since going public in 2018. Upwork said it earned $900,000, or 1 cent a sha…
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Upwork Blogs

Survey Confirms Entrepreneurship is Alive and Kicking | News

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

Entrepreneur profile: Odysseas Tsatalos | News

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

World of freelance talent at oDesk's fingertips | News

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

Tools for the Gig Economy | News

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

Entrepreneur's Journal: Boost Your Business with Virtual Workers | 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, Zoe Harte and Brian Levey.

  • How many employees does Upwork have?

    Upwork has 570 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 $655.5 k.

  • Who are Upwork competitors?

    Competitors of Upwork include WorkMarket, Magic and Fiverr.

  • 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.