{{Short description|American freelance marketplace}} {{Use mdy dates|date=June 2020}} {{Infobox website | name = Upwork Inc. | logo = Upwork Logo 2024.png | company_type = Public | traded_as = {{ubl|{{NASDAQ|UPWK}}|Russell 2000 component|S&P 600 component}} | industry = Freelance marketplace | predecessor = | founded = {{ubl|{{start date and age|1999}} (as Elance)|{{start date and age|2003}} (as oDesk)|{{start date and age|2013}} (as Elance-oDesk)|{{start date and age|2015}} (as Upwork)}} | founder = {{ubl|Bernard Sheth|Srini Anumolu|Sanjay Noronha|Odysseas Tsatalos|Stratis Karamanlakis}} | chairman = Thomas Layton | headquarters = Palo Alto, California, San Francisco, California U.S. | area_served = Worldwide | CEO = Hayden Brown | key_people = Hayden Brown (CEO)<br />Thomas Layton (chairman) | revenue = US$788 million (2025)<ref name=FY25>{{Cite web |url=https://investors.upwork.com/news-releases/news-release-details/upwork-reports-fourth-quarter-and-full-year-2025-financial|title=2025 Annual Report |date=February 9, 2026 |publisher=Upwork corp}}</ref> | net_income = US$115 million (2025)<ref name=FY25 /> | assets = {{Increase}} US$1.21 billion (2024)<ref name=FY25 /> | equity = {{Increase}} US$575 million (2024)<ref name=FY25 /> | registration = Required | url = {{Official URL}} }}
'''Upwork Inc.''' (formerly '''Elance-oDesk''') is an American freelancing platform headquartered in Palo Alto and San Francisco, California.<ref>{{cite news |last1=Council |first1=Stephen |title=Bay Area tech company Upwork announces $28M profit, slashes staff by 21% |url=https://www.sfgate.com/tech/article/upwork-announces-28m-profit-lays-off-21-percent-19861115.php |access-date=29 April 2026 |work=SF Gate |date=24 October 2024}}</ref> The company was formed in 2013 as Elance-oDesk after the merger of Elance Inc. and oDesk Corp. The merged company was subsequently rebranded as Upwork in 2015.<ref name = "UpworkChat">{{cite web |last=Lunden |first=Ingrid |title=Elance-oDesk Rebrands As Upwork, Debuts Slack-Like Chat Platform |website=TechCrunch |date=May 5, 2015 |url=https://techcrunch.com/2015/05/05/elance-odesk-rebrands-as-upwork-debuts-slack-like-chat-platform/ |access-date=May 17, 2016 }}</ref>
==History== '''Elance''' was founded in 1998 by MIT graduate Bernard Sheth and Wall Street veteran Srini Anumolu in Jersey City.<ref>{{Cite web |last=bio |first=See full |title=eLance founder indicted on fraud charges |url=https://www.cnet.com/tech/tech-industry/elance-founder-indicted-on-fraud-charges/ |access-date=2026-04-21 |website=CNET |language=en}}</ref> In December 1999, the company's 22 employees relocated to Sunnyvale, in California's Silicon Valley. Elance's first product was the Elance Small Business Marketplace.<ref>{{cite web |url=https://www.upwork.com/o/profiles/users/_~01f4d51ebb3662f716//downloads/dawn-elance-econ.pdf |title=The Dawn of the E-Lance Economy |author1=Thomas W. Malone |author2=Robert J. Laubacher |publisher=Harvard Business Review |url-status=dead |archive-url=https://web.archive.org/web/20120131175450/http://www.ecopywriters.com/downloads/dawn-elance-econ.pdf |archive-date=2012-01-31 |access-date=2010-12-25 }}</ref>
'''oDesk''' was founded in 2003 by two friends, Odysseas Tsatalos and Stratis Karamanlakis, who walked to work together even though one of them was in the U.S. and the other was in Greece.<ref>{{cite web|url=http://kepler.sos.ca.gov/|title=California Secretary of State. Corporate filing date 1/27/2003|access-date=22 June 2014|archive-url=https://web.archive.org/web/20150315010639/http://kepler.sos.ca.gov/|archive-date=15 March 2015|url-status=dead|df=dmy-all}}</ref><ref>{{Cite news|url=https://mixergy.com/interviews/gary-swart-odesk-interview/|title=The story behind launching oDesk - with Gary Swart - Mixergy|work=Mixergy|access-date=2017-07-28|publication-date=19 March 2014}}</ref> Originally created as a staffing firm, oDesk eventually became an online marketplace that allowed registered users to find, hire, and collaborate with remote workers.<ref>{{Cite web |title=Elance-oDesk unveils platform, name |url=https://www2.staffingindustry.com/Editorial/Daily-News/Elance-oDesk-unveils-platform-name-33959 |access-date=2023-05-22 |website=www2.staffingindustry.com |language=en-US}}</ref>
In 2009, a hacker breached Elance and obtained the personal details of more than 1.3 million registered users including names, addresses, passwords, and associated email account data.<ref>{{cite news|url=https://www.ibtimes.co.uk/elance-data-breach-hacker-leaks-1-3-million-accounts-staffing-platform-1605368|title=Elance data breach: Hacker leaks 1.3 million accounts from staffing platform|first=India|last=Ashok|work=International Business Times}}</ref>
Elance and oDesk announced their merger on December 18, 2013, to create Elance-oDesk.<ref name="Merger article on Bloomberg Technology">{{cite news | url=https://www.bloomberg.com/news/2013-12-18/elance-and-odesk-merge-to-form-bigger-service-for-freelancers.html | title=Elance Merges With oDesk to Boost Service for Freelancers | work=Bloomberg Technology | date=December 19, 2013 | access-date=January 18, 2014 | author=Levy, Ari | location=San Francisco}}</ref> In 2015, the new company was rebranded as Upwork, which coincided with an upgrade of the oDesk platform under the same name. The newly named Upwork also planned to phase out the Elance platform within a couple of years.<ref>{{cite web|title=oDesk becomes Upwork, but what about Elance?|url=http://smallbiztrends.com/2015/05/odesk-becomes-upwork-elance.html|access-date=6 May 2015|publisher=news.smallbusinesstrends.com|date=5 May 2015}}</ref>
The company was listed on the Inc. 5000 list from 2009 to 2014 and filed for an initial public offering on October 3, 2018.<ref name="Inc.com">{{Cite news|date=2018-07-25|title=Upwork Just Made a Surprising Decision That Will Change Everything For Freelancers|work=Inc.com|url=https://www.inc.com/bill-murphy-jr/upwork-just-made-a-surprising-decision-that-will-change-everything-for-freelancers.html?cid=hmhero|access-date=2018-07-25}}</ref><ref>{{Cite news|url=https://markets.businessinsider.com/news/stocks/initial-public-offering-upwork-prices-shares-at-15-2018-10-1027586877|title=Upwork — the largest freelancers' network — soars 50% in trading debut|last=Jiang|first=Ethel|date=3 October 2018|work=Markets Insider|access-date=3 October 2018|archive-date=October 3, 2018|archive-url=https://web.archive.org/web/20181003151625/https://markets.businessinsider.com/news/stocks/initial-public-offering-upwork-prices-shares-at-15-2018-10-1027586877|url-status=dead}}</ref>
In January 2020, Hayden Brown was appointed CEO of Upwork.<ref>{{cite news |last1=Stoller |first1=Kristin |title=How Upwork's First Female CEO Is Pivoting The Freelancing Business For A Remote World |url=https://www.forbes.com/sites/kristinstoller/2020/11/09/how-upworks-first-female-ceo-is-pivoting-the-freelancing-business-for-a-remote-world/ |access-date=1 November 2025 |work=Forbes |date=9 November 2020}}</ref>
In March 2022, Upwork was named to ''Time''{{'}}s list of TIME100 Most Influential Companies of 2022.<ref name="TIME100 Most Influential Companies of 2022 - March 30, 2022 - Upwork">{{cite magazine |last1=Van Houten |first1=Alison |title=TIME100 Most Influential Companies of 2022 - Upwork |url=https://time.com/collection/time100-companies-2022/6159444/upwork/ |access-date=August 2, 2022 |magazine=TIME |date=March 30, 2022}}</ref>
On March 7, 2022, Upwork started suspending operations for freelancers and clients in Russia and Belarus as a sanction following Russia's invasion of Ukraine in February 2022.<ref>{{Cite web|url=https://www.upwork.com/blog/a-letter-from-our-ceo-march-2022|title=A Letter From Our CEO | Upwork}}</ref>
In 2023, job postings related to AI became the fastest growing category on the Upwork platform and the company created an AI services hub to address the increasing activity.<ref name =TR23>{{cite news |last1=Greenberg |first1=Karl |title=Upwork Launches New Generative AI Tools and Services Hub |url=https://www.techrepublic.com/article/upwork-launches-generative-ai-tools/ |access-date=28 October 2025 |work=Tech Republic |date=11 July 2023}}</ref> As part of the services hub, Upwork partnered with OpenAI on a program that connected businesses with freelancers who were experienced in AI applications like ChatGPT.<ref>{{cite news |last1=Revell |first1=Eric |title=OpenAI, Upwork partner to help companies hire AI specialists |url=https://www.foxbusiness.com/technology/openai-upwork-partner-help-companies-hire-ai-specialists |access-date=30 October 2025 |work=FOX Business |date=31 July 2023}}</ref>
In 2024, the company introduced an AI assistant called Uma. The system was built on large language models and trained with platform data to assist with proposal writing and matching client jobs with freelancers.<ref>{{cite news |last1=Kherani |first1=Sadiya |title=Upwork unveils new capabilities for its Uma AI platform |url=https://www.fastcompany.com/91210506/upwork-unveils-new-capabilities-for-its-uma-ai-platform |access-date=29 October 2025 |work=Fast Company |date=17 October 2024}}</ref>
Beginning in 2023, Upwork made a series of acquisitions and integrated the acquired technology into its AI tools.<ref name=CFO25>{{cite news |last1=Noto |first1=Grace |title=Upwork leans on AI deals for greater 'optionality,' CFO says |url=https://www.cfodive.com/news/big-push-profitability-upwork-optionality-cfo-ai-freelance/758077/ |access-date=1 November 2025 |work=CFO Dive |date=19 August 2025}}</ref> The acquisitions included an AI video conferencing platform called Headroom in 2023; a search-as-service company called ObjectiveAI in 2024; and a workforce management company called Bubty in 2025.<ref name=CFO25 /> In 2025, Upwork created a subsidiary to provide services to enterprise clients called Lifted, which integrates Bubty and Ascen, <ref name=CFO25 /> a compliance and EOR company acquired in 2025.<ref>{{cite news |last1=Szkutak |first1=Rebecca |title=Upwork is buying its way into corporate staffing beyond freelancers |url=https://techcrunch.com/2025/08/06/upwork-acquires-bubty-and-ascen-with-plans-to-launch-a-standalone-enterprise-business/ |access-date=15 November 2025 |date=6 August 2025}}</ref>
On May 7, 2026, Upwork announced their second layoff of 25% of their workforce within two years.<ref>{{Cite web |title=Jobs data live updates: Cloudflare, Upwork add to mounting tech layoffs as April jobs report looms |url=https://finance.yahoo.com/economy/live/bls-jobs-report-friday-may-8-jolts-142101464.html |access-date=2026-05-08 |website=Yahoo Financial |archive-url=https://web.archive.org/web/20260508033453/https://finance.yahoo.com/economy/live/bls-jobs-report-friday-may-8-jolts-142101464.html |archive-date=2026-05-08}}</ref><ref>{{Cite web |title=A Message from Hayden Brown, Upwork CEO {{!}} Upwork |url=https://www.upwork.com/press/releases/upwork-ceo-hayden-brown-shared-the-following-message-with-employees-on-may-7-2026 |access-date=2026-05-08 |website=www.upwork.com |language=en}}</ref>
== Service and business model == Businesses and individuals can connect through this platform to conduct business. Clients post a description of their job and a price range they are willing to pay for a freelancer to complete it. The client may invite specific freelancers to apply for their jobs, or post the job for any freelancer who is interested to apply. Once the client has chosen who they want to complete the job, they hire that freelancer by sending a contract with set hours, pay rate, and a deadline for the work to be completed.<ref>{{Cite web |title=How to use Upwork effectively to hire quality talent for business? |url=https://www.webdew.com/blog/how-to-use-upwork-effectively |access-date=2023-05-22 |website=webdew |language=en}}</ref> Freelancers are also required to purchase "connects" in order to be able to bid for jobs.<ref>{{Cite web|url=https://support.upwork.com/hc/en-us/articles/211062898-Understanding-and-Using-Connects|title=Understanding and using Connects – Upwork Customer Service & Support | Upwork Help}}</ref>
== Size, scope, and changes == In March 2017, Upwork reported 14 million users in 180 countries with US$1 billion in annual freelancer billings.<ref>{{Cite press release|url=http://www.prnewswire.com/news-releases/snagajob-appoints-former-upwork-ceo-to-board-of-directors-300417689.html|title=Snagajob Appoints Former Upwork CEO to Board of Directors|last=Snagajob|website=www.prnewswire.com|access-date=2017-07-28}}</ref><ref>{{Cite web|url=https://techdayhq.com/community/articles/upwork-s-svp-of-marketing-explains-what-it-takes-to-perfect-an-offering-that-relies-on-people|title=TechDay - Upwork's SVP of Marketing Explains What It Takes To Perfect An Offering That Relies On People|website=techdayhq.com|access-date=2017-07-28}}</ref>
In 2020, the company purged 1.8 million freelancers.<ref>{{Cite web|title=Hayden Brown, Upwork Inc: Profile and Biography|url=https://www.bloomberg.com/profile/person/20787511|access-date=2020-09-09|website=Bloomberg.com|language=en}}</ref><ref>{{Cite web|title=1.8 million gig workers were purged from Upwork - here's why|url=https://www.businessofbusiness.com/articles/18-million-users-have-been-purged-from-gig-economy-site-upwork/|access-date=2024-06-26|website=businessofbusiness.com|date=March 20, 2020 |language=en}}</ref> In a 2019 call with investors Upwork CEO, Hayden Brown, said that Upwork would be focusing more on serving the needs of Fortune 500 companies rather than smaller companies just looking for a quick job with a single gig worker. Brown also spoke of a "skill gap" between what companies were looking for and what they were getting. Many of the freelancers purged were rated as "less skilled" or had lower rankings on the platform.<ref name=":1">{{cite web|last=Upwork.|website=investors.upwork.com|title=Q4 and Full Year 2019 Prepared Remarks|url=https://investors.upwork.com/static-files/e9603ba9-29b2-4461-b55b-1994e6e2b477|access-date=September 9, 2020|archive-date=October 21, 2020|archive-url=https://web.archive.org/web/20201021172726/https://investors.upwork.com/static-files/e9603ba9-29b2-4461-b55b-1994e6e2b477|url-status=dead}}</ref>
In October 2020, Upwork launched a new feature called "Project Catalog" that allows freelancers and agencies to offer pre-scoped services at fixed prices, similar to the Fiverr marketplace.<ref>{{Cite web |date=2020-10-27 |title=Introducing Project Catalog™ |url=https://www.upwork.com/blog/introducing-project-catalog-beta |access-date=2022-04-20 |website=Upwork}}</ref>
==References== {{reflist}}
==External links== {{Finance links | symbol = UPWK | sec_cik = UPWK | google = Nasdaq:UPWK | yahoo = UPWK | bloomberg = UPWK:US | reuters = UPWK.OQ | nasdaq = UPWK }}
Category:2015 establishments in California Category:2018 initial public offerings Category:American companies established in 2015 Category:Business services companies established in 2015 Category:Companies based in Santa Clara, California Category:Companies listed on the Nasdaq Category:Employment websites in the United States Category:Freelance marketplace websites Category:Online marketplaces of the United States Category:Telecommuting