Upwork, a leading freelance marketplace, has experienced significant growth and transformation in recent years.
Here are 20 insightful statistics and facts about Upwork for 2024:
- Employee Growth: Upwork currently has up to 850 employees[1].
- Reduced Workforce: In May 2023, Upwork reduced its workforce by 15%, which is 137[1].
- Gross Service Volume (GSV): Upwork made up to $4.1 billion in GSV in 2022[1].
- Fortune 100 Companies: Over 30% of Fortune 100 companies hired freelancers on Upwork in 2022[1].
- Job Categories: The Upwork marketplace has over 125 categories[1].
- Sales and Marketing: Upwork spent $246.9 million on sales and marketing in 2022[1].
- Net Losses: Despite its revenues, Upwork incurred net losses of $89.9 million in 2022[1].
- Total Assets: Upwork had total assets of $1.08 million at the end of 2022[1].
- Total Liabilities: Upwork had total liabilities of $831,000 at the end of 2022[1].
- Average Annual Salary: The average Upwork annual salary in the U.S is $62,492[1].
- Total Funding: Upwork raised up to $168.8 million in total funding[3].
- Nasdaq Listing: Upwork is listed on Nasdaq with a share price of $9.13[3].
- Market Cap: Upwork’s current market cap (net worth) is $1.22 billion[3].
- Sales and Development Category: The Sales and Development category has the highest YoY growth on Upwork with 54% [3].
- Remote Work: By 2025, 36.2 million Americans will be working remotely, an 87% percent increase from pre-pandemic levels[4].
- Hybrid Work Model: The hybrid work model is expected to increase from 42% in 2021 to 81% in 2024[5].
- Productivity: Remote workers are 35-30% more productive than their in-office counterparts[5].
- Savings: Remote workers save an average of $6,000 or more a year by working remotely[5].
- Flexibility: 98% of workers want to work remotely at least some of the time for the rest of their careers[5].
- Positive Experience: 91% of respondents report having a positive experience with remote work[5].
These statistics and facts highlight Upwork’s significant impact on the job market, remote work, and the gig economy.
They demonstrate the platform’s growth, the increasing popularity of remote work, and the benefits it offers to both freelancers and clients.
Citations:
[1] https://khrisdigital.com/upwork-statistics/
[2] https://techreport.com/statistics/gig-economy-statistics/
[3] https://backlinko.com/upwork-users
[4] https://www.upwork.com/press/releases/upwork-study-finds-22-of-american-workforce-will-be-remote-by-2025
[5] https://www.linkedin.com/pulse/state-remote-work-2024-how-navigate-job-market-new-n8gqf
[6] https://forms.app/en/blog/remote-work-statistics
[7] https://www.skillademia.com/statistics/upwork-statistics/
[8] https://www.forbes.com/advisor/business/remote-work-statistics/
[9] https://pumble.com/learn/collaboration/remote-work-statistics/
[10] https://www.positiveaccountant.com/gig-economy-statistics
[11] https://www.upwork.com/resources/what-is-freelancing
[12] https://www.lucatagliaferro.com/post/upwork-statistics-trends/
[13] https://www.upwork.com/press/releases/the-future-of-remote-work
[14] https://www.clientmanager.io/blog/freelancing-trends-statistics
[15] https://www.northone.com/blog/start-a-business/gig-economy-statistics
[16] https://explodingtopics.com/blog/freelance-stats
[17] https://www.upwork.com/resources/highest-paying-freelance-jobs
[18] https://www.upwork.com/resources/gig-economy-statistics
[19] https://www.upwork.com/resources/in-demand-jobs-and-skills
[20] https://www.upwork.com/resources/how-much-do-freelancers-make