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For a long time, Upwork has been famous as a place where people can find short freelance jobs online. But now, the company is making a big change. They’ve just bought two companies—Bubty and Ascen—to help build a brand-new business just for big companies (like big stores or major brands). This new unit will offer staffing tools and help with payments, hiring, and rules—everything companies need when they hire outside help.
What’s Going On?
- Upwork bought Bubty, a platform that helps manage freelancers and temporary workers, including tracking and payments
- They agreed to buy Ascen, a company specializing in handling contracts and rules for global teams
- These will become part of a new, separate business unit under Upwork’s roof, focused purely on larger corporate clients
Why Does This Matter?
1. It’s a Big Step Beyond Freelance Jobs
Upwork wants to move past just short-term gigs and serve big companies that need lots of different types of workers.
2. More Ways to Work Together
This new unit will support:
- Employers of record (EORs)
- Agencies that handle workers (agents of record)
- Staff augmentation (temporary teams)
3. Big Money and Big Clients
In just one quarter, Upwork reported $194.9 million in revenue and a 47% rise in net income. They’re doing well enough to invest in growth.
Why Upwork Chose Bubty and Ascen
They looked at more than 100 companies before choosing these two. The main reason? They worked well together, and would work well with Upwork.
Upwork’s CEO said the goal is clear: to give big companies everything they need—flexibility, rules, software tools—all in one place.
What Does All This Mean for Real People?
| Who You Are | What It Means for You |
| Big companies | Easier hiring, better compliance, and all tools under one roof |
| Freelancers | More opportunities to work with big clients through Upwork |
| Small business owners | No change—freelance platform stays the same |
| Upwork | Becomes stronger and more professional for big business customers |
Things to Keep an Eye On
- Can they integrate everything smoothly?
Combining multiple tools and teams is tricky, but Upwork has done mergers before. - Will they compete with big staffing firms?
Upwork’s new path puts them in competition with companies like Workday and other HR giants. - How will this affect freelancers?
Freelancers may get more opportunities, but they’ll still need to stand out professionally.
Conclusion
Upwork is making a bold move by acquiring Bubty and Ascen and building a new business just for large companies. It’s not just about freelance gigs anymore—it’s about offering full staffing solutions, support, and compliance software in one place.
This strategy could redefine how businesses hire and manage outside workers and open new doors for freelancers. The future of work is changing, and Upwork wants to be part of it.