Upwork Focuses On Enterprise

Through the partnership, Workforce Logiq’s clients will have access to search for freelancers from Upwork’s portfolio. They will be able to discover, source, and deploy freelance talent through Logiq’s Managed Service Provider program and Employer of Record payroll option to avoid worker misclassification risk.

Upwork’s results surpassed market expectations, but its outlook failed to deliver. It is currently trading at $10.52 with a market capitalization of $1.2 billion. It touched a 52-week high of $25 in February this year. The stock had fallen to a 52-week low of $9.35 earlier this month.

Upwork had listed last October at $15 and a valuation of $1.5 billion. Prior to the listing, Upwork had raised $170 million in funding from investors including Kleiner Perkins Caufield & Byers, New Enterprise Associates, Stripes Group, Pequot Capital, Citigroup, Focus Ventures, T. Rowe Price, Sigma Partners, Benchmark, Globespan Capital Partners, DAG Ventures, and SV Angel.

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Sramana Mitra is the founder of One Million by One Million (1M/1M), a global virtual incubator that aims to help one million entrepreneurs ...

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