New PeoplePerHour.com technology realises 'virtual teams' vision Thursday 29 May 2008 PDF Print Press Release, 29th May 2008: PeoplePerHour.com launches online networking to facilitate small business outsourcing to 'virtual teams'. Online services marketplace PeoplePerHour.com this week launched a pioneering new networking function designed to enable disparate freelancers to collaborate on business projects. Freelancers across the world can now join forces to complement each other's skill sets and deliver more complex and involved projects than ever before. In the words of PeoplePerHour.com founder and CEO Xenios Thrasyvoulou, the new technology will see 'the formation of virtual teams that collaborate on projects visibly, securely and cost-effectively.' Until now, PeoplePerHour.com has enabled small business owners to post projects that relevant freelance professionals are invited to bid for. The concept of outsourcing specific tasks to individual freelance 'virtual employees' is in its infancy in the UK, but it is a trend that is growing quickly. PeoplePerHour.com has amassed more than six thousand registered service providers within the past twelve months alone - a figure that is increasing at a rate of thirty percent per month. The site's new networking function means the concept is now extended to teams, not just individuals. The benefits to service buyers - generally small business owners - are manifold. Most significantly, the new function enables service buyers to outsource large-scale projects to teams instead of a series of small tasks to individuals. This is more efficient, more reliable and more cost-effective. Service providers benefit from increased opportunities to market and sell their services. Freelancers can now build a professional network of individuals they have worked with and recommend. It also enables freelancers to build a reputation from scratch. Service buyers generally select freelancers based on reviews generated by PeoplePerHour.com's feedback system. By aligning themselves with more established freelancers, those providers with no PeoplePerHour.com history can build a client base and generate positive reviews much more rapidly. 'PeoplePerHour.com remains a marketplace for services,' says Thrasyvoulou. 'But now we have successfully harnessed the power of online communities to make it more effective - for both service buyer and service provider.' For further information, images and interviews please contact: Sami McCabe m: +44 (0) 7789 777 440 t: +44 (0) 20 8849 8180 f: +44 (0) 20 8899 6001 e: email@example.com PeoplePerHour.com Background Information · PeoplePerHour.com was founded in 2007 by two Cambridge University graduates: Xenios Thrasyvoulou and Simos Kitiris. · The company has already attracted £350,000 of seed investment from prominent angel investors and is in discussions with a number of VCs for a further growth round. · Typical PeoplePerHour.com buyers run a small businesses (usually less than 20 people) including boutique financial firms, internet companies, property and PR agencies amongst many others. · Visit http://www.peopleperhour.com for further information. This press release was distributed by ResponseSource Press Release Wire on behalf of Forge London in the following categories: Consumer Technology, Business & Finance, Computing & Telecoms, for more information visit http://pressreleasewire.responsesource.com/about.