Mission Statement, Vision, & Core Values of Upwork Inc. (UPWK)

How does Upwork, the world's largest work marketplace, envision its role in the future of work, and what principles guide its operations? With a mission to 'create economic opportunities so people have better lives,' and a record $769.3 million in revenue for full year 2024, Upwork is not just connecting businesses with talent but also shaping the very landscape of how work gets done.

But what exactly are the core values that drive this success, and how do they translate into tangible actions and outcomes? Are these values merely words on a wall, or are they the compass guiding Upwork toward its ambitious goals, including a targeted 35% adjusted EBITDA margin?

Upwork Inc. (UPWK) An Overview of

Founded in 2015, Upwork is the world’s work marketplace. It enables businesses to find and work with skilled independent talent. The company provides access to a broad talent pool, allowing businesses to connect with professionals for various projects and roles. Upwork generates revenue primarily through service fees charged to both clients and freelancers using its platform.

Upwork's platform offers several key services:

• Talent Marketplace: Connecting businesses with freelancers across various skills.
• Project Marketplace: Allowing businesses to purchase pre-defined projects from freelancers.
• Managed Services: Providing additional support and resources for larger or more complex projects.

As of April 2025, Upwork continues to facilitate connections between businesses and freelance talent, driving efficiency and flexibility in the modern workforce. For more details, you can explore: Upwork Inc. (UPWK): History, Ownership, Mission, How It Works & Makes Money.

Upwork's 2024 financial performance showcased significant achievements. The company reported a record-breaking revenue of $697.3 million, marking a 12% year-over-year increase. Marketplace revenue, the primary driver, reached $629.8 million, up 9% compared to the previous year.

Key financial highlights from 2024 include:

• Gross profit was $526.6 million, or 75.5% of revenue, compared to $468.3 million, or 75.1% of revenue, in the prior year.
• Net loss was $89.9 million, or 12.9% of revenue, compared to $90.2 million, or 14.5% of revenue, in the prior year.
• Basic and diluted net loss per share was $0.67, compared to $0.69 in the prior year.
• Adjusted EBITDA was $63.8 million, or 9.1% of revenue, compared to $42.2 million, or 6.8% of revenue, in the prior year.

Upwork's growth extends beyond financials. The company has seen an increase in active clients, demonstrating its expanding market presence. This growth is supported by Upwork's strategic focus on enterprise clients and specialized talent, driving higher-value engagements and solidifying its position in the competitive landscape.

Upwork stands as a leading force in the evolving world of work, connecting businesses with top freelance talent. Its innovative platform, diverse service offerings, and strong financial performance highlight its success. Discover more about why Upwork is a leader in its industry by exploring its strategies and impact on the global workforce.

Upwork Inc. (UPWK) Mission Statement

Upwork's mission statement is 'to create economic opportunities so people have better lives.' This mission serves as the foundation for all of Upwork's initiatives and decisions. The company strives to connect businesses with independent talent, enabling individuals to find meaningful work and allowing businesses to access a diverse pool of skilled professionals.

The mission statement highlights Upwork's dedication to:

• Creating economic opportunities: Providing a platform where individuals can find freelance work and businesses can source talent.
• Improving lives: Aiming to positively impact the lives of its users by offering avenues for professional and financial growth.

This mission reflects in Upwork's operations, from platform development to community support, ensuring alignment with its core purpose. In 2024, Upwork had approximately 855,000 active clients on its platform, a 2% increase year-over-year from 2023. The company's annual revenue increased to $769.3 million in 2024, a 12% increase year-over-year. This growth underscores the effectiveness of Upwork's mission in driving both user engagement and financial success.

Upwork's vision is 'to connect businesses with great talent to work without limits'. This vision emphasizes the company's commitment to revolutionizing how businesses and independent professionals connect and collaborate in the digital era.

Key aspects of Upwork's vision include:

• Revolutionizing Work: Transforming the traditional employment landscape by promoting flexible, remote, and project-based work.
• Global Marketplace: Creating a platform where geographical boundaries do not restrict access to talent or job opportunities.
• Empowering Individuals and Businesses: Providing opportunities for freelancers to pursue their passions and enabling businesses to achieve their goals efficiently.

Upwork's vision shapes the future of work by empowering freelancers to take control of their careers and work on projects they are passionate about. The platform enables freelancers to showcase their skills and connect with clients worldwide. This approach fosters a more flexible, efficient, and inclusive work environment for everyone involved. As of 2024, freelancers on Upwork saw over 2.5 million new projects published. The Web, Mobile & Software Development category remains the most popular, making up more than a quarter of all projects.

Upwork's core values are the guiding principles that define the company's culture and influence its business practices. These values ensure that Upwork operates with integrity, focuses on customer satisfaction, and promotes a collaborative and innovative environment.

Upwork's core values include:

• Put our community first: Prioritizing the needs and success of Upwork's users, including both clients and freelancers.
• Inspire a boundless future of work: Championing the evolution of work models and promoting flexibility and innovation.
• Build amazing teams: Fostering a collaborative and supportive environment where diverse teams can thrive.
• Have a bias towards action: Encouraging quick, intentional, and purposeful action to address challenges and opportunities.

These values are reflected in Upwork's commitment to customer satisfaction, innovation, and ethical conduct. For example, Upwork's dedication to putting the community first is evident in its efforts to provide resources and support to both freelancers and clients. The company's focus on inspiring a boundless future of work is demonstrated through its advocacy for remote work and its investment in AI-driven solutions. In 2024, revenue from Freelancer Plus subscriptions increased 48% year-over-year, indicating strong adoption and satisfaction among freelancers. AI-related work on the platform saw a 60% growth in gross services volume (GSV), with a 42% increase in the number of clients engaging in AI projects.

For more insights into Upwork, explore this investor profile: Exploring Upwork Inc. (UPWK) Investor Profile: Who’s Buying and Why?

Upwork Inc. (UPWK) Vision Statement

Upwork's mission is to create economic opportunities so people have better lives. This vision drives the company's strategies and operations, influencing its financial decisions and community engagement.

Upwork's core values include:

• Put People First
• Have Courage
• Innovate Urgently
• Inspire Action
• Thrive Together

These values inform how Upwork operates and interacts with its users and stakeholders.

Creating Economic Opportunities

Upwork aims to revolutionize how work is done by connecting businesses with independent talent globally. As of the fiscal year 2024, Upwork's platform facilitated connections that led to substantial earnings for freelancers and cost savings for businesses. The company reported a gross services volume (GSV) of $4.1 billion, reflecting the volume of work transacted through its platform, showcasing the tangible economic opportunities created. This GSV underscores Upwork's significant role in the gig economy, providing a marketplace where supply and demand for talent meet efficiently.

Upwork's platform enables businesses, from startups to large enterprises, to access a global pool of skilled professionals. This access is particularly beneficial for small businesses that may not have the resources to hire full-time specialists. By leveraging Upwork, these businesses can scale their operations, innovate, and compete more effectively in the global market. The platform supports various types of projects, ranging from short-term tasks to long-term engagements, providing flexibility for both businesses and freelancers. In 2024, Upwork had 857,000 active clients.

Enabling Better Lives

Upwork's vision extends beyond just connecting businesses with talent; it focuses on improving the lives of individuals by providing them with flexible and meaningful work opportunities. For many freelancers, Upwork offers a pathway to financial independence, allowing them to set their own rates, choose their projects, and work on their own terms. This flexibility is particularly valuable for individuals seeking to balance work with other life commitments, such as family care or further education.

The platform offers freelancers the ability to build their professional reputation and expand their network, leading to increased earning potential and career advancement. Upwork provides resources and tools to help freelancers market their skills, manage their projects, and ensure they get paid fairly for their work. The company also invests in initiatives to promote diversity and inclusion on its platform, ensuring that opportunities are accessible to individuals from all backgrounds. In 2024, Upwork reported revenue of $737.3 million, a 12% increase year-over-year.

To delve deeper into Upwork's financial health and strategic performance, explore: Breaking Down Upwork Inc. (UPWK) Financial Health: Key Insights for Investors

Upwork Inc. (UPWK) Core Values of

While specific, formally published core values for Upwork Inc. are not readily available as of April 2025, insights into the company's operational focus and priorities can be gathered from its mission statement, investor relations, and general business practices. These inferred values reflect Upwork's strategic direction and commitment to its stakeholders. For a deeper dive into Upwork's background, explore: Upwork Inc. (UPWK): History, Ownership, Mission, How It Works & Makes Money

Based on available information, key inferred core values include:

• Empowering Talent and Clients: Upwork's primary focus is on connecting skilled freelancers with businesses needing their expertise. This suggests a core value centered around empowering both talent and clients to achieve their goals through flexible work arrangements.
• Innovation: As a technology platform, Upwork likely values innovation to stay competitive and meet the evolving needs of the online freelance marketplace. This could include developing new tools, features, and services to enhance the user experience.
• Customer Focus: Upwork's success depends on providing a positive experience for both freelancers and clients. This implies a strong customer focus, with a commitment to addressing user needs and resolving issues effectively.
• Integrity and Trust: Trust is essential in an online marketplace where users interact remotely. Upwork likely emphasizes integrity and trust to foster a safe and reliable environment for conducting business.
• Results-Oriented: Upwork's business model is based on facilitating successful projects and transactions. This suggests a focus on delivering results and helping clients and freelancers achieve their desired outcomes.

These inferred values are reflected in Upwork's initiatives and communications. For example, Upwork's focus on empowering talent is evident in its various programs and resources designed to help freelancers develop their skills and find work. Its commitment to innovation is demonstrated by its ongoing investments in new technologies and features. Its customer focus is reflected in its efforts to provide excellent customer support and resolve user issues promptly.

While these values are not explicitly stated as 'core values' by Upwork, they represent the principles and beliefs that guide the company's actions and decisions. As a publicly traded company, Upwork's commitment to these values is essential for building trust with investors, attracting and retaining talent, and achieving long-term success.