Summary: OVERPRICED
Score: 6/20
MOS: -300%
Share Price: $13
Sticker Price: $3
Is Upwork a good buy?
Are you looking for affordable freelancers?
Web designers, mobile app developers, graphic designers, copywriters, accountants, project managers, etc… Upwork is the place to look.
Upwork was founded in 1999 with the original name, Elance. They rebranded a few times but finally settled on the name Upwork in 2015.
Today Upwork has 12 million freelancers and 5 million clients using the platform. Upwork generates revenue by charging a small percent of each transaction. The fees are as follows:
20% for the first $500 billed with the client
10% for lifetime billings with the client between $500.01 and $10,000
5% for lifetime billings with the client that exceed $10,000
This is both a great business model for finding talent or if you’re a service provider, it’s a great marketing tool to promote your services.
The issue with Upwork are the financials. With a score of 6/20, this company needs to make a lot of improvements. Also, the sticker price of $3 vs the share price of $13 means this business is too much of a risk. We’ll have to pass on Upwork.
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