NEW YORK, Oct. 03, 2018 (GLOBE NEWSWIRE) -- Upwork Inc. (Nasdaq: UPWK), the largest global freelancing platform where businesses and independent professionals connect and collaborate remotely, visited the Nasdaq MarketSite in Times Square today in celebration of its initial public offering (IPO) on The Nasdaq Stock Market.
Upwork operates the largest online global marketplace for freelancers by gross services volume (GSV). Its platform reduces inefficiencies associated with searching for, contracting and collaborating with, and paying highly-skilled freelancers for short-term and long-term projects. In the twelve months ending June 30, 2018, Upwork enabled $1.56 billion of GSV across 2 million projects, serving approximately 375,000 freelancers and 475,000 clients in over 180 countries. By fostering trust and credibility with freelancers and their clients, Upwork has established market leadership amid an economy that is becoming ever-more dependent on efficient access to knowledge and skills.
“As a company that believes in work without limits -- and on behalf of our community of freelancers and the businesses who work with them -- it’s an honor for Upwork to begin our chapter as a public company,” said Stephane Kasriel, President and Chief Executive Officer of Upwork. “Today helps cement Upwork as a leading force in the positive future of work. We are at the beginning of a significant transformation in how, where and when work gets done with all professional services jobs that can be done remotely representing approximately $560 billion in gross services volume. Traditional time and place-oriented hiring methods no longer make sense. Businesses can find much more talent if they branch out and gain access to the skills freelancers provide.”
“Upwork has led the way in unlocking the potential of the freelance economy injecting transparency and flexibility into the labor marketplace,” said Nelson Griggs, President, Nasdaq Stock Exchange. “It is our pleasure to have Upwork join our renowned group of companies in looking to enable economic opportunities for more people.”
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Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today’s global capital markets. As the creator of the world’s first electronic stock market, its technology powers more than 100 marketplaces in 50 countries, and 1 in 10 of the world’s securities transactions. Nasdaq is home to approximately 4,000 total listings with a market value of approximately $14 trillion. To learn more, visit: http://business.nasdaq.com
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A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/222c975d-3261-479c-a2d7-391c84eb497e
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