Have you ever dreamed of having the flexibility to work from home or from anywhere remotely while delivering excellent value to corporate businesses? Well you are in luck if you have taken advantage of a great freelance platform called Upwork. Upwork was the result of a merger between Odesk and Elance back in 2014. One of its goals is to connect businesses and corporations with professional freelancers specializing in finance, computer programming, and writing among other services.
The IPO of Upwork could mark the beginning of other privately held companies such as Fiverr following suite later on in the years to come. Upwork plans to raise more than a quarter of the money needed or about $160 million dollars to help fund its cause on the marketplace. Upwork’s money making strategy and plan is enhanced by the fact the its make more money as its freelancers are able to secure more contracts. UpWork takes a cut or percentage of the freelancers profits thus allowing it to operate as efficiently and effectively as possible.
The valuation of Upwork is somewhere north of $700 million dollars using data from 2014 and many investors have been very bullish about the future of Upwork’s services to the general public. One great sign to investors is that the company is on the profitable side of things having earned over $5 million dollars in free cash flow. The company also boasts that a lot of its professional client base keep coming back year after year for its services. All of these features combined make it a prime investment vehicle for hungry investors.
The future looks bright for UpWork as its platform and services have garnered much attention and use by the millennial age group. Over half of this group utilizes some sort of freelancing activity for business as well as being freelancing themselves.
Find out more about Upwork: https://play.google.com/store/apps/details