- Upwork is an intermediary between freelancers looking for work and clients looking for freelancers. For connecting the two sides online, as well as providing escrow and other services, it takes a fee.
- Revenue grew significantly in 2020, but the company was not profitable because of heavy spending on research and development and sales and marketing. It has signaled more of the same.
- Upwork is financially strong but expensive, as one might expect of a company with a share price that shot much higher in the past year.
For further details see:
Upwork Chooses More Growth Rather Than Profitability