The global freelance platforms market is projected to grow from $7.65 billion in 2025 to $16.54 billion by 2030, with a CAGR of 16.66%, according to ResearchAndMarkets.com. This rapid growth reflects the increasing reliance of businesses on freelance talent in a gig economy driven by specialization and agility.
Upwork Inc. (UPWK) reported record first-quarter results for 2025, with revenues of $193 million and net income of $37.7 million, surpassing both company guidance and Wall Street estimates. Adjusted EBITDA reached a record-high of $56 million, representing a margin of 29%. Despite these positive results, Upwork’s stock is down 18% year to date.
The company has significantly integrated AI into its operations, enhancing customer productivity and engagement. Engagement with its AI tool, Uma, surged by 52% quarter-over-quarter. Upwork aims to drive market share and profitability within the burgeoning AI talent market, which currently faces a significant skills shortage among employers.
