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Technology Stocks
UPWK - UpWork
An SI Board Since September 2018
Posts SubjectMarks Bans Symbol
16 9 0 UPWK
Emcee:  FR1 Type:  Moderated
Let's talk about UpWork (UPWK).

This company will IPO October 2, 2018 and it is expected to price low (maybe $12/share?). The company is selling 6.81 million shares, and selling stockholders are selling 5.45 million shares at $10.00 and $12.00 per share of common stock. It is selling shares at 4.70x forward sales, which does not seem that expensive.

They are arguably the king of supervised freelance work. You go there and ask for any kind of freelancer you can imagine and tons of them are available from all over the world. You can review samples of the work they have done and read reviews. You post a job you want done and you can review all the responses with their bids. You can also restrict your vendor by country or even restrict it to only allow vendors you select and UPWK will contact the vendor.

Historically, they used to be called eLance and oDesk. Elance was founded in 1999 by Beerud Sheth and Srini Anumolu. oDesk was founded in 2003 by Odysseas Tsatalos and Stratis Karamanlakis. Upwork was formed 18 months after Elance and oDesk announced their merger on December 18, 2013 to create Elance-oDesk.

Personally I used to use eLance and loved it. After the merger I did not like the new GUI as much as before when I used eLance but Upwork has twelve million registered freelancers and five million registered clients. Three million jobs are posted annually, worth a total of $1 billion USD. So it is hard to beat those numbers.

UPWK handles the contract for you and they moderate everything online. Basically they act as a escrow for your job. They take your payment and wait until the job is over and agreed to. You use their blogging window which is exclusive to you and your vendor (you can upload files too). When both parties agree the contract is over they then release the escrow money to the vendor after taking their fee. You are allowed to tip if you want to.

It seems to me that this will be a very big field of activity. The big push going forward will be to do a lot of contract work online so you avoid lawsuits and having to pay for employees when there is no work, etc.
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16Quite a run by these gig stocks since last spring: schrts.coRon112/2/2020
15Not UpWork but very interesting experiment on Fiverr (Some pretty amazing art fSI Ron (Crazy Soup Man)-5/30/2019
14I agree with most of the comments. I used to use eLance which I thought was muchFR1-5/16/2019
13I have been happy with the site. Yes, some people may inflate their resumes, butGlenn Petersen22/24/2019
12I used oDesk now Upwork for graphic design work. They are good and the people wSI Ron (Crazy Soup Man)-2/24/2019
11I am using Upwork to fill a management position for a startup. The quality of thGlenn Petersen-2/24/2019
10I have used UpWork for graphic design in the past, use to be called oDesk. GreaSI Ron (Crazy Soup Man)-10/16/2018
9I think the field of businesses that act as online moderators for freelance workFR1-10/12/2018
8The interface is clunky. I never thought that I would be praising Craigslist forGlenn Petersen-10/12/2018
7The downside is that UPWK has a horrible interface. Let's say you are typingFR1-10/10/2018
6Upwork IPO: Freelancing platform soars on first trading day By IrinGlenn Petersen-10/3/2018
5Upwork prices IPO at $15 a share By Jeremy C. Owens MarkeGlenn Petersen-10/2/2018
4Originally the range was $10 - $12 Yesterday they changed the range to $12 - $14FR1-10/1/2018
3Trading range changed. Original pricing was $10 - $12 It has just been changed tFR1-10/1/2018
2eTrade had some shares pre-IPO but they got bought up immediately. I suppose thFR1-9/30/2018
1The most recent registration statement: sec.govGlenn Petersen-9/30/2018
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