SOURCE: Elance

Elance

March 27, 2012 09:15 ET

Elance Surpasses $500 Million of Online Work

On the Road to $1 Billion: Elance Predicts Top 3 Trends Shaping the Future of Online Work

MOUNTAIN VIEW, CA--(Marketwire - Mar 27, 2012) - Elance, the internet platform used by businesses to gain instant access to 1.4 million independent workers online, today announced it surpassed more than $500 million of online work on its platform. Elance's growth is accelerating as more businesses build contingent workforces in the cloud, and more professionals market and deliver their services online.

"This significant milestone is a reflection of the hard work, dedication and entrepreneurial spirit of the Elance community," said Fabio Rosati, CEO of Elance. "For companies of all sizes and millions of independent professionals around the world, the rise of online work is becoming an indispensable employment strategy."

As Elance advances toward $1 billion in contractor earnings, the company predicts three industry trends that will shape the future of online work:

  • 1 in 3 people will be hired online by 2020. As more companies realize the benefits of tapping into a worldwide talent pool, online hiring will become a mainstream employment practice. According to an Elance business survey, eighty-three percent of businesses already plan to hire at least half of their workers online this year and this trend will rise as businesses discover the power of online work teams.

  • 1 in 2 businesses will have online teams by 2020. Collaboration is increasing online and it's happening on a global scale. Today's innovative online employment platforms offer a virtual workplace that emulates the physical office. As tools become more sophisticated in the virtual office, businesses of all sizes will realize the ease in managing and leveraging global talent teams to achieve their goals.

  • Global professional guilds will emerge online. The increased adoption of social technologies will foster a new level of community building within the online workforce. Guilds will begin to form online around similar career interests, industries, and skill sets, mirroring traditional associations or networking groups. Professionals will tap these new social organizations to improve work practices and standards.

Hiring entire teams online has already become a core business strategy for innovative companies, with a 120% increase in new businesses adopting this model in the last year alone; Elance predicts that online employment will experience triple-digit growth in 2012. Click here to see the infographic chronicling the road to $500 million on Elance.

"We built our company 100% on Elance," said Ignacio Galarraga, CEO of The NetMen Corp, a company that offers comprehensive graphic design services. "We started from scratch and now have 7,000 customers and a team of project managers and designers across the globe. To date, we have completed 15,000 projects, with a quarter of them coming from customers outside of the United States. Working through Elance's online platform is what enabled this strong, rapid and sustainable growth."

"For years, I worked full-time at a Fortune 500 financial institution as a technical writer. I had a steady job, but craved independence and wanted more control of my career," said Ben Gran, a professional writer within the Elance provider community. "By tapping Elance's vast network of businesses seeking talent online, I've been able to reinvent my career, collaborate with people from all across the globe and become a business of one. To date, I've earned more than $110,000 on Elance, working on my own terms."

About Elance
Elance, the world's leading platform for online employment, helps businesses hire and manage in the cloud.

For businesses looking to staff-up a team on an hourly or project basis, Elance offers instant access to talent and the ability to build and manage entire teams online. For independent professionals who want to work online, Elance offers access to qualified clients, a virtual workplace and guaranteed pay for great work.

The company is privately held and headquartered in Mountain View, California and Oslo, Norway. For more information, visit Elance at www.elance.com.

Contact Information

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