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Engine Capital Sends Letter To Upwork's Board Of Directors Regarding Opportunities To Substantially Increase Shareholder Value, Believes Management's Lack Of Strategic Clarity And Focus, Poor Execution, Excessive Spending, And Significant Turnover Have Led To Poor Performance

Author: Benzinga Newsdesk | September 13, 2024 08:02am

Believes Management's Lack of Strategic Clarity and Focus, Poor Execution, Excessive Spending, and Significant Turnover Have Led to Poor Performance

Underscores that Upwork's Current Trading Valuation of ~6.5x EBITDA Represents a Steep Discount to its Intrinsic Value and Other Online Marketplaces and Staffing Firms

Calls on Upwork to Refresh Board to Improve Marketplace Functionality, Grow Enterprise Opportunity, Repurchase Shares, and Optimize Costs to Capture Significant Upside Potential

Engine Capital LP, which owns approximately 3.5% of the outstanding shares of Upwork Inc. (NASDAQ:UPWK) ("Upwork" or the "Company"), today announced it sent the below letter to the Company's Board of Directors regarding actionable opportunities for enhancing shareholder value.

Posted In: UPWK

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