Upwork Revenue and Usage Stats (2024)
Upwork is one of the top freelance marketplaces where businesses connect with independent professionals and agencies
Upwork was the joint product launched in 2015 after the merger of Elance and ODesk on December 18, 2013
Here's 2024's up-to-date statistics on Upwork's revenue and its users
Top Picks
- Upwork has 18 million Freelancers
- 814,000 active clients who spend at least $5000 on Upwork
- There are around 3.7 million freelancers on Upwork in the United States
- Evan Fisher is the highest-earning freelancer on Upwork who's made over $1,500,000
- The average pay for Upwork freelancers is $21.80/hour
- Upwork's annual revenue is $566,623 million.
- The Gross Services Volume has crossed $4.1 billion in 2023 on Upwork
Upwork Users Stats
How many Freelancers are on Upwork?
There are about 18 million freelancers on Upwork according to the last publicly available data
The number of freelancers using the platform has grown significantly after 2020 owing to the rise of remote work
How many Clients are on Upwork?
Clients are employers who spend at least $5000 on Upwork
There are 814,000 active clients on Upwork which is a 6% increase compared to the previous year when there were 771,000 clients
This explains that high-value customers have found value in Upwork's services in recent years
For a better understanding, here's the number of active clients during the past 5 years
| Year | Number of Clients |
|---|---|
| 2022 | 814,000 |
| 2021 | 771,000 |
| 2020 | 633,000 |
| 2019 | 540,000 |
It's quite evident that there has been a steady increase in the number of active clients year-on-year
How many Freelancers are in the US?
There are about 3.7 million freelancers on Upwork in the US contributing $21.45 million in revenue to Upwork
Here's a percentage split of Upwork Freelancers by country
| Country | Percentage of Freelancers |
|---|---|
| United States | 66% |
| India | 9% |
| United Kingdom | 3% |
| Canada | 2% |
| Rest of the world | 20% |
Most of the freelancers are predominantly present in the United States while countries like India are slowly starting to bring an influx of new freelancers to Upwork
Who is the highest earner on Upwork?
Evan Fisher, CEO of Unicorn Capital and a well-known Freelance Pitch Deck is the highest-earning Freelancer on Upwork, earning over $1,500,000 in his first 4 years on Upwork
He is the founder of Freelance MVP which has all the remote tools necessary for Freelancers to earn money online
Who uses Upwork the most?
Upwork is predominantly used by companies in the United States specifically in the Information Technology and Services industry with 10-50 employees doing $1 million - $10 million in revenue
Information Technology and Services Industry has been the biggest customer on Upwork due to the adoption of remote work culture
Upwork Revenue Stats
How much money do Freelancers make on Upwork?
The average pay for Freelancers on Upwork is $21.80/hour
- Freelance writers make $10-$100/hour on Upwork
- Freelance web developers make $13-$324
- Freelance Graphic Designers make $15-150/hour on Upwork
How does Upwork make money?
Upwork takes a 10% cut as a fee on Freelancer services. This fee is charged on all client contracts be it hourly, fixed-price, or a project catalog
Agencies also pay the same 10% fees on Freelancer services
How much revenue does Upwork make?
Upwork made $566,623 million in 2022 according to the latest filings.
This is a 23% change compared to the previous year when it made $462,340 million in 2021
| Year | Revenue |
|---|---|
| 2022 | $566.6 million |
| 2021 | $462.3 million |
| 2020 | $338.1 million |
| 2019 | $300.5 million |
| 2018 | $253.3 million |
| 2017 | $202.5 million |
| 2016 | $164.4 million |
This could be explained by an increase in freelancers and the new addition of marquee brands to Upwork
Some of the well-known brands joining Upwork as Enterprise clients are Anheuser-Busch InBev, Constellation Brands, Cushman & Wakefield, Fabletics, Fanatics, Honeywell, Marriott International, Payoneer, Pearson, Reddit, and ServiceNow
What is the revenue from Employers?
Upwork makes revenue from employers using the platform for freelance services
In 2023, Upwork had made $283.6 million in revenue from Employers all over the world
Upwork makes its cut from payment processing, administration fees, currency exchange fees, memberships, and service commissions
| Year | Revenue from Employer Clients |
|---|---|
| 2022 | $283.6 million |
| 2021 | $205.8 million |
| 2020 | $146.9 million |
| 2019 | $113.1 million |
| 2018 | $90.1 million |
This shows that employers contribute to a significant chunk of Upwork's revenue apart from Freelancers on the platform
What is the Gross Services Volume in Upwork?
Gross Services Volume (GSV) is the total value of payments made on Upwork platform which includes money paid to freelancers and the fees charged by Upwork
Upwork has made $4.1 billion in gross services volume in 2023.
| Year | Gross Services Volume |
|---|---|
| 2022 | $4.1 Billion |
| 2021 | $3.54 billion |
| 2020 | $2.52 billion |
| 2019 | $2.09 billion |
| 2018 | $1.75 billion |
| 2017 | $1.37 billion |
| 2016 | $1.15 billion |
The Gross services volume has risen with new freelancers finding it easier to get onboarded on Upwork with remote tools and clients looking for services on the platform
Upwork fees for freelancers
Upwork charges a 10% service fee on the services rendered by Freelancers and agencies.
If the Freelancer was eligible for the contract before May 3, then there is a 5% service fee chargeable
Upwork Company Stats
Here are some interesting stats about the company:
Upwork has about 850 employees in 2023
| Year | Number of Upwork Employees |
|---|---|
| 2022 | 850 |
| 2021 | 650 |
| 2020 | 540 |
| 2019 | 570 |
| 2018 | 430 |
| 2017 | 395 |
Sources: Upwork Community, Upwork, Freelance Forward Report
Conclusion:
This is a roundup of all the Upwork Stats for 2024.
Upwork is a growing freelance marketplace generating $4.1 billion in gross services volume.
With remote work getting more popular, Upwork is likely to gain more popularity and grow its revenue and clients
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