The Implications of ODesk and Elance Merger: A New Era in Freelancing

Today, Elance and ODesk announced their merger to form a powerful new platform named Upwork. This move signals significant changes in the freelance industry, with implications for both clients and freelancers.

Upwork: A Unified Freelance Platform

Elance and ODesk have been the two largest freelance marketplaces in the world, with a combined market share of over 50%. Now, under the Upwork brand, these two platforms are merging to create a more robust and efficient platform for freelance services. The combination brings together the strengths of both Elance and ODesk, aiming to significantly boost their revenue streams and improve their market position.

Expansion and Growth Strategy

Upwork's aggressive expansion plan aims to drive annual freelancer revenues from the current $1 billion to $10 billion within the next six years. This ambitious goal underscores the company's confidence in the potential of the freelance market and its conviction that the new platform will be well-positioned to capture a significant portion of this growth.

Enhanced Productivity and Functionality

With the merger, Upwork intends to leverage the combined database of the two former platforms to enhance its job matching capabilities. Data scientists will be able to mine this expanded database to improve the accuracy and relevance of job matches, ultimately benefiting clients and freelancers alike. Additionally, the unified platform aims to bring missing functionality to market more quickly, ensuring that both parties receive the best possible service and support.

Shrinking or Reforming Freelancing Industry

The acquisition of several platforms by Upwork signals a larger shift in the freelance industry. Either the industry is shrinking, consolidating into a few dominant players, or it is undergoing a significant transformation. The merger of ODesk and Elance represents a step towards consolidation, as the combined entity seeks to dominate the market and provide a more streamlined and efficient service for its users.

Freelancing Industry Evolution

As Upwork continues to expand and refine its platform, the freelance industry is likely to see further changes. With greater competition and a more robust ecosystem, both clients and freelancers will have more choices and better support. However, the role of the freelance platform will evolve, and the industry as a whole will need to adapt to ensure continued success and growth.

The implications of the ODesk and Elance merger are clear: the freelance industry is undergoing significant changes. Upwork's new platform promises to enhance the experience for all parties involved, but the true test will be whether it can deliver on its ambitious revenue goals and transform the industry in the process.

Conclusion

The merge of ODesk and Elance into Upwork is a pivotal moment in the freelance market. As one of the largest players in the industry, Upwork aims to lead the way in the evolving freelance economy. The success of this move will depend on its ability to continue expanding and delivering value to its users.

Odesk Elance Merger marks a significant shift in the industry. Upwork Platform aims to drive revenue growth through enhanced functionality. Freelancing Industry Evolution is driven by consolidation or transformation.

As Upwork navigates this new landscape, all eyes will be on how the platform evolves and whether it can truly reshape the freelance market for the better.