Impressive first year figures from dotcom startup indicate growing trend for businesses to choose ad-hoc online outsourcing over traditional temporary recruitment agencies.
Online services marketplace PeoplePerHour.com this week reached ten thousand service providers. In its first year, the site has seen £1m worth of projects successfully matched to service providers.
The site enables anyone to market any business service from graphic design to translation, copywriting to coding. Service providers are either people using their skills to moonlight or fulltime freelancers. Businesses use PeoplePerHour.com to post specific projects for the service providers to bid for.
PeoplePerHour.com’s early success is more bad news for the traditional recruitment industry, which has suffered at the hands of various online success stories in recent years.
“Companies like LinkedIn have hit the executive search market while online classifieds like Gummtree and Craigslist have eaten into the revenues of traditional recruitment agencies,” says PeoplePerHour.com founder Xenios Thrasyvoulou.
“Our site is accelerating that trend by bringing in a new alternative: the ability to find remote people to do discrete project work, therefore avoiding recruitment altogether. It’s a cheaper and more flexible option and – due to the vast choice available – generally of better quality too.”
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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.
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