Paul Estes, a senior director at Microsoft, sees how important it is that the company’s toolkit is geared directly toward the freelance economy. “We’ve learned our tech can make freelancing a powerful and modern way that works for most companies. We’re at the very beginning of this journey.”
To Estes, “If you want radical agility in your workforce, it starts with a gig mindset.” And this mentality makes UpWork a go-to solution for Microsoft’s future plans.
An already growing business
The technology of this impending deal makes sense, but so do the financials, as UpWork has finally worked its way to profitability. After failing to turn a profit in previous quarters, the last quarter of 2018 showed how the company is finally starting to leverage its business model and strengths toward positive financials.
In the fourth quarter of 2018 the company was able to increase its revenue to $67.3 million, up 23% in the quarter. Adjusted EBITDA for the company was finally in the black, coming in at $3.6 million compared to -$1.9 million a year ago. While these numbers aren’t huge by any means, they do indicate a small business which is finally figuring itself, and the market, out.
