UpWork (NASDAQ: UPWK) is a publicly traded company that operates a freelancing platform. The company was founded in 2015 and is headquartered in Mountain View, California. As of May 2019, the company has a market capitalization of $1.6 billion.
UpWork is the largest freelancing platform in the world and offers a wide range of services for businesses and individuals. The company has over 12 million registered freelancers and over 5 million registered businesses. UpWork charges a fee for every job posted on its platform, and also takes a percentage of the freelancer’s earnings.
The company has been growing rapidly since it was founded, and its revenues have more than doubled every year since 2015. In 2018, UpWork generated $247 million in revenue, up from $110 million in 2017. The company is not profitable yet, but its losses have been narrowing in recent years.
UpWork went public in October 2018 at $15 per share. The stock has since risen to around $23 per share, giving the company a market capitalization of $1.
The UpWork IPO was well-received by investors, and the stock has been one of the best-performing IPOs of 2018. UpWork is one of the few companies in the gig economy that has been able to successfully transition to a public company.
The stock is still fairly new, and it remains to be seen how well it will perform in the long term. However, given the strong growth prospects for the gig economy, UpWork seems like a good stock to buy for long-term investors.
The Upwork stock may be a good buy for some investors, but there are some things to be aware of before investing. First, the company has yet to turn a profit, so there is no guarantee that it will be a successful investment. Second, the stock is highly volatile, so it may be subject to large swings in price. Finally, the company is facing increasing competition from other freelancer platforms, so it is important to do your research before investing.
Is UpWork Good Stock to Buy?
Yes, UpWork is good stock to buy for long-term investors given the strong growth prospects for the gig economy.
