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Upwork, formerly Elance-oDesk, is a global freelancing platform where businesses and independent professionals connect and collaborate remotely. Upwork allows clients to interview, hire and work with freelancers and agencies through the company's platform. The platform now includes a real-time chat platform aimed at reducing the time it takes to find and hire freelancers. To ensure the freelancers are billing fairly for jobs billed hourly, the platform offers a time sheet application that tracks time and takes screenshots while the freelancer is working. Upwork has a mobile app for both Android and iOS, as well as a time-tracking app for Windows, OSX, and Linux.





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TypePublic
Founded2015
HQMountain View, US
Websiteupwork.com
Employee Ratings4

Latest Updates

Employees (est.) (Oct 2018)42,341(+4%)
Job Openings35
Revenue (FY, 2017)$202.6 M(+24%)
Share Price (Feb 2019)$22.1 (+6%)

Key People/Management at Upwork

Stephane Kasriel

Stephane Kasriel

CEO
Stratis Karamanlakis

Stratis Karamanlakis

CTO
Brian Levey

Brian Levey

CFO & General Consuel
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Upwork Office Locations

Upwork has offices in Mountain View, Chicago, San Francisco and Oslo
Mountain View, US (HQ)
441 Logue Ave
Chicago, US
400 224 N Desplaines St
San Francisco, US
430 475 Brannan St
Oslo, NO
3 Tordenskiolds gate
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Upwork Financials and Metrics

Upwork Revenue

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Upwork's revenue was reported to be $202.55 m in FY, 2017 which is a 23.2% increase from the previous period.
USD

Revenue (Q3, 2018)

64.1m

Gross profit (Q3, 2018)

43.6m

Gross profit margin (Q3, 2018), %

68%

Net income (Q3, 2018)

(7.3m)

EBIT (Q3, 2018)

(3.3m)

Market capitalization (15-Feb-2019)

2.3b

Closing stock price (15-Feb-2019)

22.1

Cash (30-Sep-2018)

27.1m

EV

2.3b
Upwork's current market capitalization is $2.3 b.
Annual
USDFY, 2016FY, 2017

Revenue

164.4m202.6m

Revenue growth, %

23%

Cost of goods sold

62.6m65.4m

Gross profit

101.9m137.1m
Quarterly
USDQ3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Revenue

43.9m46.7m48.8m52.3m59.2m62.7m64.1m

Cost of goods sold

14.9m15.0m15.9m16.9m19.6m20.5m20.5m

Gross profit

29.0m31.7m32.9m35.4m39.6m42.2m43.6m

Gross profit Margin, %

66%68%67%68%67%67%68%
Annual
USDFY, 2016FY, 2017

Cash

27.3m21.6m

Accounts Receivable

25.3m30.8m

Prepaid Expenses

4.1m4.6m

Current Assets

116.6m144.1m
Quarterly
USDQ2, 2018Q3, 2018

Cash

31.3m27.1m

Accounts Receivable

36.8m

Prepaid Expenses

5.2m

Current Assets

154.9m181.5m
Annual
USDFY, 2016FY, 2017

Net Income

(16.2m)(4.1m)

Depreciation and Amortization

8.5m4.2m

Accounts Payable

(578.0k)74.0k

Cash From Operating Activities

3.1m(4.0m)
Quarterly
USDQ2, 2017Q2, 2018Q3, 2018

Net Income

1.4m(7.2m)(14.5m)

Depreciation and Amortization

2.1m2.3m3.5m

Accounts Payable

669.0k261.0k5.0m

Cash From Operating Activities

9.1m10.4m(8.2m)
USDY, 2018

EV/EBIT

-704.1 x

EV/CFO

-286.6 x

Revenue/Employee

1.6k

Debt/Equity

-0.9 x

Debt/Assets

0.1 x

Financial Leverage

-9.6 x
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Upwork Operating Metrics

Q3, 2016FY, 2016Q1, 2017Q2, 2017Q3, 2017FY, 2017Q1, 2018Q2, 2018

Core Clients

77 76.50 k77.20 k78.60 k82.60 k86.40 k91 k95.70 k

Gross Services Volume

$289.37 m$1.15 b$311.13 m$332.02 m$353.50 m$1.37 b$402.25 m$834.53 m

Retention Rate

85%85%89%92%95%99%103%106%

Categories of Work

70
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Upwork Revenue Breakdown

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Upwork revenue breakdown by business segment: 87.9% from Marketplace and 12.1% from Managed services

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Upwork Online and Social Media Presence

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Upwork Blogs

Looking for a Web Designer? Here’s How to Start Your Search

Web designers bring the aesthetics of a website to life. They’re also responsible for making your website a joy to use. If you need help with the UI (user interface) and UX (user experience) of your website, a web designer can help. In this post, we’ll look at the ins and outs of finding a great web…

How Do You Create an Eye-catching Video? Watch This and Find Out!

Whether you have a built-out video strategy or are just looking to get your toes wet, finding the talent, tools, and time to create a video for your small business can be daunting. Let's dive into some of those details. The post How Do You Create an Eye-catching Video? Watch This and Find Out! appea…

Tools on the Edge of a Microservice

As Upwork moved toward distributed micro frontends and backends, we needed tools to facilitate communication between services. Among other things, we wanted the access to remote systems to be as fault tolerant as practically possible and supported by a clearly defined contract to avoid human error. …

Invite Your Coworkers to Upwork and You Could Win Lunch on Us!

Engaging freelancers on Upwork doesn’t just help your team get projects done faster and more efficiently. It could also help you win $500 to go out and celebrate with your coworkers! Find out how. The post Invite Your Coworkers to Upwork and You Could Win Lunch on Us! appeared first on Upwork Blog.

Upwork To Report Third Quarter 2018 Financial Results On November 7, 2018

Event to be Webcast Live on the Upwork Investor Relations Website Mountain View – October 17, 2018 – Upwork Inc. (Nasdaq: UPWK), the largest global freelancing website, today announced that it will report its third quarter financial results, for the period ended September 30, 2018, on Wednesday, Nov…

5 Things to Tell Your Kids About the Future of Work

Eighty-five percent of the jobs that will exist in 2030 haven’t been invented yet. How do you prepare your kids for the future of work when our use of technology and knowledge is in constant flux? With four kids of his own, it's a question Upwork CEO Stephane Kasriel often asks himself. The post 5 T…
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Upwork Company Life and Culture

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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 Stephane Kasriel, Stratis Karamanlakis and Brian Levey.

  • How many employees does Upwork have?

    Upwork has 42,341 employees.

  • What is Upwork revenue?

    Latest Upwork annual revenue is $202.6 m.

  • What is Upwork revenue per employee?

    Latest Upwork revenue per employee is $4.8 k.

  • Who are Upwork competitors?

    Competitors of Upwork include Fiverr, untapt and Babajob.

  • Where is Upwork headquarters?

    Upwork headquarters is located at 441 Logue Ave, Mountain View.

  • Where are Upwork offices?

    Upwork has offices in Mountain View, Chicago, San Francisco and Oslo.

  • How many offices does Upwork have?

    Upwork has 4 offices.