Freelancer.com, the world's largest outsourcing marketplace, announced that the site has passed $100 million in user earnings.
Freelancer.com CEO Matt Barrie says the figure proves that building a global team on a shoestring budget for any entrepreneur or small business can be a realistic, mainstream concept.
“More individuals and businesses are discovering exactly how far they can extend their competitive advantage using Freelancer.com,” Barrie said.
“Through an established platform like ours, outsourcing results in quality output while simultaneously reducing costs. We estimate that the $100 million in projects paid out through the site has saved businesses around $1 billion in equivalent skilled labor costs in industrialized economies.”
According to Freelancer.com, the top five outsourcing countries are the United States (40%), the UK (10%), India (7%), Canada and Australia (5% each).
Through Freelancer.com, businesses can simply post a project on the site where millions of professional freelancers globally can bid to complete the work, starting from $30, with the average job accomplished for under $200.
The top 10 U.S. outsourcing cities are New York, Los Angeles, Miami, Chicago, Houston, Atlanta, San Francisco, San Diego, Dallas and Austin.
Employers are guaranteed to only receive high-quality, timely work from freelancers via the site's Milestone Payment system -- a system that withholds payment until the employer is fully satisfied with the delivered work.
“Employers want to know they're hiring reliable and capable freelancers, so these decisions are not determined by price alone, but a combination of a freelancer's bid, their reputation, and suitability to the task -- determined by factors such as adherence to submission dates, quality of work and past employer feedback,” Barrie said.
There are over 400 categories of work that can be outsourced through Freelancer.com, with IT being one of the most popular. Freelancer.com has also recently launched a design contest site -- the world's largest -- where users can get 18 different types of design, including logos, business cards, and t-shirts.
“You can get virtually anything done, whether it's designing a website, data entry, or something as esoteric as designing an iPhone app so you can propose to your girlfriend! With Freelancer.com, 2.7 million professionals are readily available to deliver high-quality work at a fraction of the cost,” Barrie said.
The top five project categories are PHP (9%), Website Design (7%), Graphic Design (5%), Data Entry (4%) and Copywriting (4%).
India (34%), the United States (11%), Pakistan (9%), Bangladesh (6%) and the Philippines (4%) and the five largest freelancing countries.
Edited by Kevin Scarpati