For the past decade, the American workforce has approached working much different than previous generations. Particularly the millennial generation has been attracted to many jobs in the non traditional sector. This has birthed a way of freelancing opportunities and gig work type of jobs. Big time executives, corporations and investors have taken notice. Because of this wave many tech companies have created platforms that allow for freelancers and gig workers to find work. Those looking to hire come to these platforms in search of talented individuals who can work with them remotely.
Upwork has been linking employers with workers for years now. They have become a successful company that is able to match working individuals with people who want to work. Upwork has some competition. But the company has been able to withstand this competition and make s name for itself with the growing demand of gig work. Because the economy is increasing with people who either freelance or do gig work investors have turned their eyes to Upwork. Upwork exemplifies many qualities that attract investors.
Upwork has developed its tech company and software with unique algorithms that allow employers and workers to match up. Investors are interested in this company that makes hundreds of millions of dollars a year. Upwork could use some financial help. The company has not made a profit. Although the company makes millions and the gig economy is booming, tech companies, especially startup ones, are hard to become profitable. Investors are willing to go into another round of funding to push this company to new heights. There is even one investor willing to fund the company with thirty million dollars.
Investors could expect big things with investing in Upwork. Economists are saying by 2025 the gig economy will be well over one trillion dollars. Investors know they can cash in big with investing in a platform that is apart of an industry that is leading the workforce. Upwork is a sign of many things. It stands as a symbol for a changing economy, a non traditional workforce, the online tech sector and how society is viewing work.