oDesk Leads Online Outsourcing in Q3 with 40% Market Share

    LONDON, ENGLAND, November 24, 2010 /24-7PressRelease/ -- Founded in 2003, oDesk rapidly secured its position as one of the market leaders. Total billings since launch have exceeded $196m. In the third quarter of 2010 the company reported more than 1m hours worked by its global freelance workforce in a single month (August 2010).

These findings and more were reported today (22nd November 2010) in the Freelance Marketplace Review, published by WhichLance.com, the outsourcing marketplace comparison site.

The report found that oDesk had secured almost 40% share of all spend across the top ten online outsourcing sites during the third quarter of 2010.

"Online work has been embraced across a wide swath of industries and on a global scale. The future of work truly lies in employers and contractors forging long-term, successful working relationships," said oDesk CEO Gary Swart. "oDesk's leadership in the market is the result of bringing the two parties together and creating an online work environment that enables them to build trust, collaborate and succeed - together."

The Freelance Market Review also found that Elance, one of the pioneers of online outsourcing, reported billings of $24.6m USD, up 6.1% on the second quarter of 2010.

Combined billings on oDesk and Elance now account for 70% of all expenditure on the top ten marketplaces, up from 69% of the total in Q2.

LimeExchange, a relatively small US based marketplace that launched in 2007, reported a 56% increase in billings, up $250,000 to $0.7m, from $0.45m in Q2.

UK based marketplace PeoplePerHour posted the biggest percentage increase in billings, from $3.3m in Q2 to $5.9m in Q3, an increase of 79% in three months.

WhichLance.com is the outsourcing, offshoring and freelancing comparison site. The first and only place to compare the features, services and viability of leading freelance marketplaces side by side. For further information please visit http://whichlance.com.

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