Upwork has announced two acquisitions, Bubty and Ascen, to establish a standalone business focused on enterprises. This new entity aims to provide talent access beyond independent contractors, allowing Upwork to compete in the corporate staffing market. The acquisitions support various contract types, including agent of record and employer of record. CEO Hayden Brown emphasized that the new offering combines flexibility and compliance while meeting enterprise needs. Upwork's enterprise business currently accounts for $100 million of its $750 million yearly revenue, indicating strong market demand for the new capabilities.
'Most of the providers that exist today force their customers to choose between flexibility and compliance, or speed and scale, or having a digital tool versus having something that's actually robust and for the enterprise,' Brown said. 'And with this new capability, we're refusing to compromise.'
Upwork will integrate these two companies into its existing enterprise business to create a standalone entity under the Upwork umbrella. This move is significant because it will allow Upwork to offer access to talent beyond the independent contractor workforce Upwork is known for.
Collection
[
|
...
]