Freelancing is a huge and segmented market. Compared to the traditional agency model, Upwork’s marketplace model provides an on-demand staffing solution and achieves cost savings for employers.
Upwork differentiates itself by providing a freelancer-focused and employer-friendly platform as compared with existing platforms. In addition, it has secured a large freelancer base. We think it is well-positioned.
At a glance, Upwork’s valuation seems to be rich compared to its competitors. However, the 2.4B market cap still does not reflect Upwork’s full potential.
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