Upwork one of the world’s largest work marketplace platform connecting million of business with independent talent around the globe. There is more than 8,000 skills, including website and app development, creative and design, customer support, finance and accounting, consulting and operations.

Two popular online freelance platforms Elance and oDesk merged to form Upwork. The platform says it has over 12 million registered freelancers and more than 5 million registered clients. It posts 3 million jobs annually.

For clients hiring freelancers, the company charges 2.75% processing fee per payment transaction. Freelancers pay 20% for the first $500 billed with the client, then 10% for total billings between $500.01 and $10,000, 5% when total billings with the one client exceed $10,000.

There are two types of payment on this work marketplace platform – fixed price contracts and for hourly contracts. For fixed price contracts, clients make deposits in an escrow account. The money is released to the freelancer once the job is done or on reaching specific milestones in the project. On hourly jobs, clients are billed every Monday for the previous week’s hours based on the freelancers’ work diary that records number of hours.