An in-depth review of freelance marketplaces has found that a record $60M USD was spent on the leading freelance websites worldwide in the first quarter of 2010.

The Freelance Marketplace review, published at http://whichlance.com today (18 June), is the most comprehensive independent study of freelancing websites ever published. The review found that between January 1st and March 31st 2010 more than $60Million USD was spent on the top 10 freelancing websites. This represents over 9% of the total spent on freelancing websites, since the first one launched in 1998.

The review looks at the freelancing market as a whole, reviews activity in the first quarter of 2010 and also makes forecasts and predictions for the future of freelance marketplaces. It is based on in-depth reviews of the leading freelancing websites together with analysis of data supplied by the marketplaces and interviews with leading figures in the industry.

Key findings from the quarterly review include:
More than $60 million USD was spent on the top 10 freelance marketplaces

The top two marketplaces – Elance and oDesk – claimed the lion’s share of billings with 69% between them

More than 50,000 companies and individuals turned to freelance marketplaces to source workers

More than 150,000 individuals registered with the leading freelance websites in an attempt to secure work

More than 9% of the total spend ever made on the leading freelance marketplaces occurred in this period.

The review found that most executives in the industry are upbeat about the future of freelance marketplaces.

Commenting on the future, Kristen Sabol, Head of Communications and Marketing at Guru told WhichLance “Guru.com believes that the online freelance market is just now on the cusp of maturing. If online freelancing is going to happen on a larger scale, it should begin during the next up-cycle. The freelance model now seems unavoidable.”

Ian Ippolito, CEO at Rent A Coder said “We are excited about the future, particularly our upcoming rebrand to vWorker.”

Xenios Thrasyvoulou, founder of People Per Hour said “I am confident for the future of the freelancing market and confident in our ability to carve out a niche within the market to secure long term viability for our marketplace which emphasises quality over quantity.”

Launched on 29th April 2010, WhichLance.com is the world’s first freelance comparison site. It offers potential buyers of freelance services an opportunity to compare freelance marketplaces. browse a directory of freelancing websites, compare the key features of the leading websites or search for a freelancing marketplace which meets their requirements based on various criteria.

The full WhichLance market review can be downloaded from http://whichlance.com/review/freelance-market-review-q1-2010-full.pdf

Ends.

Editors Notes

The WhichLance review covers the period 1st January 2010 to 31st March 2010 inclusive. It has been written and produced by Saif Bonar, founder of WhichLance.

PR courtesy of Online PR News: http://www.onlineprnews.com

Media Contact:
Saif Bonar
+44 7966 960 625
http://whichlance.com
[email protected]

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