$10m spent on ODesk - An outsourcing marketplace

ODesk.com, an outsourcing marketplace provider, announced yesterday that to date, contracts/projects cumulatively worth $10 million have been executed via the ODesk infrastructure. ODesk was recently featured in the Red Herring 100 Finalists list and positions itself as an on -demand global workforce provider.

I have personally believed in the value provided by upstarts like ODesk. Although marketplaces like E-Lance and Rent-a-Coder have existed for a longer duration, companies like ODesk go beyond the aspect of a market place and try to provide tools that enable its clients to function effectively in that marketplace. Although I am skeptical about its scalability in terms of, what project sizes it can handle, I am sure it will satisfy small and individual projects. (Psst… I heard somewhere that the Technorati website was built by outsourcing it to someone via ODesk - I am not completely sure when or where I heard this information though!)