Freelancing platform “Upwork” upsizes its IPO
Silicon Valley-based online freelance marketplace Upwork increased the proposed share price range for its upcoming public offering to $12 to $14. Its IPO filing shows a company with decently growing revenues and improving cash flow.
The company said in its prospectus that the freelancers on its platform offer more than 5,000 skills across over 70 categories. The gross revenue from projects through the platform in the year ended June 30 was $1.56 billion across 2 million projects. The company said that work was done by 375,000 freelancers for 475,000 clients in more than 180 countries.
About Upwork :
Upwork is a global freelancing platform where businesses and independent professionals connect and collaborate remotely. It is based in Mountain View and San Francisco, California. The full name is Upwork Global Inc.
Freelancing platform “Upwork” upsizes its IPO < Business News