Which way is the future of upwork? Upwork known as the popular online job marketplace for freelancers around the world. Launched in 28, the marketplace was formerly known as Odesk, which combined with another popular freelance marketplace Eleans, in 25, upped the ante. Its popularity is increasing day by day. Microsoft is now the world’s largest software maker. Rumor has it, Microsoft is trying to acquire Upwork.
Ever since coming to the IPO in October last year, interest among tech companies has been growing. Its business model has changed the way employees are hired. Upwork provides jobs for freelancers and marketers for organizations as a marketplace. Upwork has to pay a certain portion of the proceeds to Upwork. Earlier, freelancing activities were spread across various online networks and job sites. Upwork communicates between freelancers and employers to provide a single service and builds long-term relationships between them.
Market researchers say the freelance market is growing fast. By 2021, most of the US work will be done through the freelance marketplace. Upwork is in a position to play an important role in the future freelance economy.
The way Microsoft has been carrying out strategic plans for years has been in line with the acquisition of companies like Upwork. Microsoft acquired LinkedIn, formerly known as a social media website for professionals. Microsoft has brought a huge network of employers and professionals to the ecosystem. When Microsoft acquired LinkedIn in a $ 26.2 billion deal, its users were 1 million. Although Microsoft acquired LinkedIn, it is still operating as an independent company. In addition, Microsoft recently acquired GitHub, known as a code-keeping website, for $ 1 million. Beyond this, Microsoft acquired a $ 5 million tool called Glint for human resources management. There are arguments about acquiring an organization such as Upwork for a network operated by Microsoft’s business services.
Regarding the purchase of LinkedIn for US $ 2,220 billion, Microsoft CEO Satya Nadella said that it was important for LinkedIn to keep up with Microsoft’s growth. The decision was taken to keep up with the growth of LinkedIn and Microsoft Office 9 to ensure the empowerment of people in every person and organization around the world.
Market analysts say that Microsoft is considering upwork just as it has seen LinkedIn. Various upwork resources or resources may be useful to Microsoft in the future.
Earlier, when buying LinkedIn, the company’s share price had dropped drastically. The upward trend is the same from last year. As a result, its current valuation may be attractive to potential acquisitions. This is why many analysts are considering buying upwork.
However, no formal proposal has been made by Microsoft yet. So buying UpWork is not final. However, due to Microsoft’s eyes on Upwork, the application of Upwork will now increase with other tech companies. Companies like Google, Salesforce will want to upwork Pocket. This can be a great opportunity for investors in upstream.