A quarterly review of the leading freelance marketplaces has found strong growth in the freelancing and online outsourcing sector in the 2nd quarter of 2010, with a 40% increase in combined turnover among the leading ten marketplaces.
Online PR News – 05-October-2010 – – The report for the period April 1 – March 31 2010 found that over $72m was spent on the leading freelancing websites in the 2nd quarter of 2010 with almost $50m of that spent on the top two sites (oDesk and Elance) alone.
UK-based PeoplePerHour demonstrated the strongest growth, with billings up by over 120% on their Q1 figures. Xenios Thrasyvoulou, Founder and CEO of PeoplePerHour, commented on the report, “I think we are on track to realise our target of being the global leader in this space. We are already leaders in the UK and capturing ground in the US at an incredible speed. We feel we have a superior product and a much more engaged community so we are confident we will meet our target.”
Australian site Freelancer.com also showed exponential growth, with a 78% increase in billing volume over the previous quarter, propelling it to 3rd place in the market for this quarter, based on billing volume.
Market leaders Elance and oDesk also bothincreased billings, although not to the same extent as some of the new kids on the block. Billings at Elance rose by 11% over the previous quarter to $23.2m, while oDesk led the pack with quarterly billings of $26.7m, an increase of 25% over the previous quarter.
The Freelance Marketplace Review is compiled by WhichLance.com, the freelance marketplace comparison site. It is produced with the aim of providing an independent analysis of the freelance marketplaces. It is distributed in order to promote freelance marketplaces while helping small businesses considering outsourcing projects online to make informed decisions as to which freelance marketplace best fits their needs.
The freelance market review can be downloaded here: