Engine Capital is pushing Upwork's board to fix 'foundational issues' plaguing the freelance marketplace.
Engine Capital has a roughly 4% stake in freelance marketplace Upwork and is pushing the company to shake up its board.
Close-up of sign at entrance to Silicon Valley headquarters of outsourcing and freelancing company Upwork, Mountain View, California, May 3, 2019.Activist investor Engine Capital has a roughly 4% stake in freelance marketplaceIn a letter to Upwork's board on Friday, Engine said the company needs to fix "foundational issues" that are plaguing the platform. Upwork shares rose more than 3% on the news in pre-market trading Friday.
"Brown is now effectively on her third management team in four years," Engine founder Arnaud Ajdler said in the letter. Brown has had three CFOs in four years, the activist said, adding that former employees have expressed frustration with the company's "lack of strategic clarity and focus."
Upwork Inc Business Mergers And Acquisitions Activism Breaking News Breaking News: Business Technology Fiverr International Ltd Fiverr International Ltd Business News
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Maserati GranTurismo Folgore EV (2024) review: to engine or not to engine?CAR magazine UK drives the new electric Maserati GranTurismo Folgore for the first time in the UK with pictures, specs and verdict
Read more »
Activist Engaged Capital has big stake in Portillo's, pushes for a turnaround, sources sayActivist investor Engaged Capital has built a big stake in struggling Chicago food chain Portillo's and is pushing for change, sources said.
Read more »
Activist Engaged Capital has nearly 10% stake in Portillo's, pushes for a turnaround, sources sayActivist investor Engaged Capital has built a big stake in struggling Chicago food chain Portillo’s and is pushing for change, sources said.
Read more »
Activist Engaged Capital has big stake in Portillo's, pushes for a turnaround, sources sayActivist investor Engaged Capital has built a big stake in struggling Chicago food chain Portillo’s and is pushing for change, sources said.
Read more »
Ford recalling about 85,000 Explorer police vehicles because of potential for an engine fireFord advised customers to park and shut off the engine as soon as possible when they hear unexpected engine noises, or see smoke from the engine compartment.
Read more »
Ford recalling about 85,000 Explorer police vehicles because of potential for an engine fireFord advised customers to park and shut off the engine as soon as possible when they hear unexpected engine noises, or see smoke from the engine compartment.
Read more »