$10 Million Spent To Date On oDesk OutSourcing Projects

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J. Michael Arrington (born March 13, 1970 in Huntington Beach, California) is a serial entrepreneur and the founder of TechCrunch, a blog covering startups and technology news. Arrington attended Claremont McKenna College (BA Economics, 1992) and Stanford Law School (JD, 1995) and practiced as a corporate and securities lawyer at two law firms: O’Melveny & Myers and Wilson Sonsini Goodrich... → Learn More

Thursday, April 12th, 2007

oDeskSilicon Valley based oDesk, which is a marketplace for developers and companies looking for outsourced developer help, seems to be sailing along nicely. Next week they’ll announce that $10 million has been spent on outsourced projects to date, and they have 750,000 or so total billed hours. That’s up 50% from last November, when we reported that they had reached 500,000 billed hours. oDesk keeps a flat 10% of fees.

Until recently oDesk only allowed projects to be priced on an hourly basis. Two weeks ago they launched fixed price jobs as well, which is something many comments here requested in our previous posts about them. After a month of quiet beta testing, 750 jobs were posted at a fixed price, with an average price of around $500

The company says their top markets for buyers are the U.S., the U.K., Canada, Saudi Arabia and Australia, while the most popular markets for providers are India, Russia, the Ukraine, the U.S. and the Philippines. The programming skills most in-demand are PHP/MySQL, C#/.Net, ASP, Java/J2EE and C/C++/Win32SDK.

oDesk is based in Menlo Park and they have raised $6M from Sigma Partners and Globespan.

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