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Upwork sets IPO price range, market value of firm could be up to $1.3 billion

September 24, 2018

Upwork, the largest B2B human cloud firm, set a price range for shares in its initial public offering of between $10 and $12, according to a filing on Friday with the US Securities and Exchange Commission. The IPO would raise $135.0 million at the midpoint of the range. Renaissance Capital reported Upwork could have a fully diluted market value of $1.3 billion after the deal.

Dragoneer Investment Group LLC has indicated an interest in acquiring $27 million in shares at the IPO prices, according to the filing.

Upwork plans to list on Nasdaq under the symbol “UPWK.” It previously announced its IPO earlier this month.