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Upwork Inc. (symbol: UPWK) is the world's largest online work marketplace that connects businesses with skilled independent professionals. Headquartered in the United States, Upwork offers a robust platform where over 30% of Fortune 100 companies and entrepreneurs of all sizes can collaborate with talent across diverse fields. With product offerings such as Upwork Basic, Upwork Plus, Upwork Business, Upwork Enterprise, and Upwork Payroll, the platform provides scalable solutions tailored to the needs of various business segments.
In 2021, the Upwork talent community earned over $3.3 billion through the platform, demonstrating its significant economic impact. Upwork facilitates connections across more than 10,000 skills, including website and app development, creative and design, customer support, finance and accounting, consulting, and operations. Its comprehensive global reach spans the USA, India, the Philippines, and beyond, enhancing its value proposition for both talent and clients worldwide.
Recently, Upwork has strengthened its market position through strategic partnerships with top-tier providers of generative AI tools and learning resources, including Adobe, Amazon, ClickUp, and Miro. These collaborations aim to elevate productivity and skills among the freelancers on the platform, fitting AI seamlessly into their workflows. Furthermore, Upwork has introduced the Upwork Chat Pro, a generative AI application powered by GPT-4, to assist in streamlining tasks and providing efficient project management solutions.
Upwork's dedication to innovation is further evident with the launch of a new AI Services hub and AI Education Library, which are aimed at expanding freelancers' expertise in AI and improving project outcomes. This aligns with the findings from the Upwork Research Institute, revealing that a significant majority (76%) of freelancers express high confidence in mastering new AI tools.
Moreover, Upwork's third-quarter 2023 financial results underscore its robust economic health, reflecting profitable growth and strategic agility. The company continues to enhance its Enterprise Suite through partnerships with SAP Fieldglass and Flextrack, and integrations with HRIS, ATS, procurement, and recruitment platforms to provide a cohesive workforce management solution for large enterprises.
For the latest updates, innovations, and financial news about Upwork Inc., please visit upwork.com and follow their social media channels on LinkedIn, Facebook, Instagram, TikTok, and X (formerly Twitter).
Upwork (Nasdaq: UPWK) announced that VP of Investor Relations, Evan Barbosa, will participate in several upcoming investor conferences. The events include the J.P. Morgan Equity Opportunities Forum in Miami on November 14, 2022, the BTIG Technology Innovation Summit virtually on November 15, and the RBC Capital Markets Global Technology, Internet, Media and Telecommunications Conference in New York on November 16. Upwork is recognized as the world's largest work marketplace, achieving over $3.3 billion in earnings for its talent community across various sectors in 2021.
Upwork Inc. (Nasdaq: UPWK) reported its third-quarter financial results for 2022, showcasing its position as a leading work marketplace. The company, which connects businesses with independent talent, highlighted significant engagement with over 30% of the Fortune 100. In 2021, its talent community earned over $3.3 billion across 10,000 skills. Upwork will discuss these results in a conference call today at 2 p.m. Pacific Time. For detailed financial insights, investors can refer to the Upwork Investor Relations website.
Upwork Inc. (Nasdaq: UPWK) will release its third quarter 2022 financial results on October 26, 2022, after market close. A conference call to discuss these results is scheduled for 2:00 p.m. Pacific Time the same day. A live webcast will be accessible on Upwork's Investor Relations website.
In 2021, Upwork's talent community earned over $3.3 billion across various skills, positioning Upwork as the largest work marketplace globally, measured by gross services volume.
Upwork has launched a new brand campaign titled "This Is How We Work Now," reflecting the shift towards hybrid workforce models that leverage freelance talent. The campaign, which coincides with the findings of Upwork's Future Workforce Report, suggests that 72% of hiring managers are now more comfortable with hiring freelancers, and two-thirds of businesses plan to increase their use of independent professionals. The campaign features a two-minute anthem film and highlights how today's businesses are redefining work.
Upwork (Nasdaq: UPWK) has announced the search for a new Chief Financial Officer as current CFO Jeff McCombs will remain until December 31, 2022, to facilitate the transition. CEO Hayden Brown expressed gratitude for McCombs' contributions, stating that this is the right time for a leadership transition as the company continues to innovate and scale. Upwork reaffirms its Q3 2022 guidance, projecting revenue between $156 million and $158 million, with an adjusted EBITDA loss between $7 million and $9 million. The company plans to share further performance details in its upcoming earnings call.
Upwork's seventh annual Future Workforce Report highlights the ongoing labor shortage affecting U.S. businesses, with 60% of hiring managers struggling to find quality talent. Despite a challenging hiring landscape, nearly 70% of these managers plan to increase staffing. The report notes significant reliance on independent talent, with 58% of hiring managers intending to engage freelancers in the next six months. Furthermore, 84% of companies using freelancers express confidence in their ability to respond to disruptions, illustrating the strategic value of independent professionals in fostering innovation and agility.
Upwork, the largest work marketplace globally, announced participation in two upcoming investor conferences. President and CEO Hayden Brown, CFO Jeff McCombs, and VP of Investor Relations Evan Barbosa will speak at the Citi Global Technology Conference on September 7, 2022, and the Goldman Sachs Communacopia + Technology Conference on September 14, 2022. The latter will include a fireside chat at 11:30 a.m. PT. A live webcast will be available on Upwork’s Investor Relations website. Upwork's platform earned over $3.3 billion for its talent community in 2021.
On July 27, 2022, Upwork (NASDAQ: UPWK) reported its Q2 2022 financial results, highlighting its leadership as the largest work marketplace based on gross services volume (GSV). The company facilitates connections between businesses and independent talent, serving clients ranging from startups to Fortune 100 companies. In 2021, Upwork's talent community generated over $3.3 billion across more than 10,000 skills. A conference call to discuss the results is scheduled for 2 p.m. PT. For further details, visit Upwork's investor relations website.
Upwork, the leading work marketplace, announced its participation in the Canaccord Genuity 42nd Annual Growth Conference. President and CEO Hayden Brown, alongside CFO Jeff McCombs, will engage in a fireside chat on August 11, 2022, at 9:00 a.m. ET. A live webcast will be available on Upwork's Investor Relations website, with an archive accessible for 90 days post-event. Upwork connects businesses with independent talent, boasting a GSV that serves various clients, including over 30% of Fortune 100 companies, facilitating over $3.3 billion in earnings for its talent community in 2021.
Upwork has launched the "Opportunity Unlimited" initiative in partnership with Tent Partnership for Refugees, Genpact, and Sutherland, aiming to connect tens of thousands of displaced Ukrainian professionals with remote work opportunities. This initiative arises as Ukraine experiences a severe refugee crisis, with over 5 million people fleeing and an estimated 5 million jobs lost. By leveraging Upwork's platform, the initiative helps displaced individuals gain economic independence and offers companies access to skilled talent. Support services include talent matching and skills certification.
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