For freelancers around the world, one site that they rely on for work is Upwork Marketplace. You might have known them by other names such as Elance prior to becoming Upwork. It is under their direction that businesses are able to contact freelancers for a variety of different jobs. In recent weeks, Upwork has gone public with their addition to joining Nasdaq.
Elance and oDesk were the 2 companies that started out online hosting a business platform for freelancers to be hired for various tasks. It was the success that they reached which helped them to merge and become Upwork. What most people do not know however is that these companies are joining more companies by becoming members of the booming stock market.
Upwork is the biggest platform for freelancers to date. It operates from within 180 countries and is known as Upwork Global Inc. The team of individuals who work for the company is comprised of designers, developers, finance specialists and even writers. The revenue that comes in from the work done by individuals is paid by the service fee’s for those freelancers working to find jobs through the platform.
It is with the success of the company that they have been able to go public. The freelancers of the business will contribute to the Upwork success through the percentage of the work fees acquired by the freelancers. The fees will work to lessen overtime as the working relationship will start to grow between freelancers and companies. In the year 2018, the freelance platform had more than 2 million different projects on it and over 350,000 freelancers and more than 450,000 clients registered to the business.
In a world where everyone talks about making money from home, it is nice to know that there are businesses out there like Upwork that will allow the freelancers to work from home while earning a legit income. In a world where there is so much talk about scams, businesses like Upwork depend on the success of their freelancers if they expect to keep making money. For Upwork, they know that as long as their freelancers are making money, that they will make money. In a business such as Upwork, they hold typically around 15% of the money made by the freelancers. This is what has helped them to become the successful business that they are today and what has contributed to them going public.