- Upwork (Nasdaq) priced slightly upsized 12.48 mln share IPO (from 12.3 mln shares) at $15.00, above the increased $12.00-14.00 range
- Upwork opened for trading at $23.
- Raised $187 million.
Upwork CEO Stephane Kasriel
Upwork provides an online platform that connects freelancers with businesses, where they can collaborate remotely.
"Freelancers are an increasingly sought-after, critical, and expanding segment of the global workforce," said the Upwork IPO prospectus.
For the 12-month period ended June 30, the Upwork platform was used for 2 million projects between approximately 375,000 freelancers, totaling $1.56 billion in paid services, the company said.
For the six-month period ended June 30, Upwork reported revenue of $121.9 million, up 28% from the year-ago period. It showed a net loss of $7.2 million.
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