The global freelancing platform Upwork has announced in an official statement that the company intends to go public. Catering mostly to freelance labor encircling creative digital work, web development, and others Upwork have created an ecosystem of freelancers that have added value to the workforce.
As per the announcement from the company, the number of shares to be offered along with price range is yet to be determined. The announcement also mentions that the firm’s share will be listed on the Nasdaq exchange under the name UPWK.
Till date, Upwork has raised a whopping $168.8 billion through venture funding as per the Crunchbase data. The last round of funding, which was $30 million, was led by Benchmark, a San Francisco-based venture capital firm.
With an ever-increasing growth rate alongside strong year-to-date operating cash flow, Upwork is expected to grow more rapidly with its grip over the IPO cash.