oDesk

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oDesk
TypePrivate
IndustryInternet
Service Marketplace
Workforce Management
FoundedCampbell, California
2003
Founder(s)Odysseas Tsatalos
Stratis Karamanlakis
HeadquartersRedwood City, California
Key peopleThomas Layton
(Executive Chairman)
Gary Swart
(CEO)
WebsiteoDesk.com
 
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oDesk
TypePrivate
IndustryInternet
Service Marketplace
Workforce Management
FoundedCampbell, California
2003
Founder(s)Odysseas Tsatalos
Stratis Karamanlakis
HeadquartersRedwood City, California
Key peopleThomas Layton
(Executive Chairman)
Gary Swart
(CEO)
WebsiteoDesk.com
ODesk
Alexa rank486 (September 2012)[1]

oDesk is a company with a global job marketplace and a series of tools targeted at businesses that intend to hire and manage remote workers. Based in Redwood City, CA, oDesk was founded in 2003 by Greek entrepreneurs Odysseas Tsatalos and Stratis Karamanlakis.[2]

Contents

Background

oDesk is the largest among a number of companies, including Elance, Freelancer, Guru, PeoplePerHour, vWorker (formerly Rent A Coder) and Nubelo, that create marketplaces in which independent contractors and their clients can contact one another. These sites often manage the payments, and make money by charging membership fees and/or take a cut of the payment. The cuts can range from 4 percent to 15 percent. oDesk charges 10% but does not charge a membership fee.[3]

Description

oDesk allows clients to create online workteams coordinated and paid through the company's proprietary software and website.[4] The name is a short version of "online desk"[5] in reference to the company's intent to enable anyone to work anywhere, anytime. Prospective clients can post jobs for free, and freelance workers (“contractors”) may create profiles and bid on jobs, also for free.[3] The company collects 10 percent of the payment.[6] Payments are made through oDesk, which handles many bookkeeping tasks for the transaction. In addition to the marketplace aspect and the payment/bookkeeping services, the company uses collaborative software, “oDesk Team,” that allows clients to see a provider's progress while he or she is billing time.

The company describes itself as an online workplace. As of Jan. 10, 2009, the company reports that nearly 37,000 of its 170,000 providers are in the United States[citation needed]. The company's site is entirely in English, and all transactions are made in U.S. dollars[7]. The site does not post statistics regarding locations of buyer companies. In December 2009, the company's self-reported tally of services paid through its site had passed $113 million.[citation needed]

The specific areas of expertise supported by the site include web development and a wide variety of programming/software development skills, graphic design, writing and administrative support. The company provides voluntary skills tests in various disciplines from English aptitude to specific programming skills, and profiles include a feedback mechanism.

Financing

oDesk has raised four rounds of financing. The first was by Globespan Capital and Sigma Partners.[8] The second round was raised in September 2006, led by Benchmark Capital and included the previous two investors.[9][10] The third round was raised in May 2008, led by DAG Ventures and included the previous three investors.[11]

The most recent round was announced in March 2012. Certain investment strategies managed by T. Rowe Price Associates, Inc. led the round, with participation from Benchmark Capital, Globespan Capital Partners and Sigma Partners. [12]

The venture investors on oDesk's board include Greg Gretsch, Venky Ganesan, and Kevin Harvey.

Innovation

The company's oDesk team software increases transparency and allows a client to have confidence in the billing done by a contractor whom the buyer may never have met and who may be half a world away. In an October 2008 interview with website Web Worker Daily, CEO Gary Swart said the work diaries “give buyers unprecedented visibility into work performed,” and that the Team software's “hassle-free tracking guarantees convenient, safe, and accurate billing for all work performed.”[13]

Awards

See also

References

  1. ^ "odesk.com Site Info". Alexa Internet. http://www.alexa.com/siteinfo/odesk.com. Retrieved 2012-09-02. 
  2. ^ "oDesk About Us Page". https://www.odesk.com/w/about-odesk-team. Retrieved 7 June 2011. 
  3. ^ a b Raymund Flandez (2008-10-13). "Help Wanted – And Found". The Wall Street Journal. http://online.wsj.com/article/SB122347721312915407.html?mod=googlenews_wsj. 
  4. ^ "Interview with Gary Swart (oDesk)". March 11, 2012. http://doeswhat.com/2012/03/11/interview-with-gary-swart-odesk/. 
  5. ^ "Nodesk.com becomes oDesk.com". February 20, 2007. http://blog.odesk.com/2007/02/nodeskcom-becomes-odeskcom/. 
  6. ^ "oDesk Policy". October 2010. http://www.odesk.com/help/help/policies/user_agreement#policies. 
  7. ^ https://kb.odesk.com/questions/1350/Can+oDesk+charge+me+in+my+local+currency%3F
  8. ^ "Internet startup oDesk gets $6M funding". Silicon Valley / San Jose Business Journal. June 1, 2006. http://sanjose.bizjournals.com/sanjose/stories/2006/05/29/daily44.html. 
  9. ^ "oDesk Announces $8 Million Series B Round Led by Benchmark Capital". Yahoo! Finance. September 27, 2006. http://biz.yahoo.com/iw/060927/0167008.html. 
  10. ^ Marshall, Matt (September 27, 2006). "oDesk, marketplace for developers, raises $8 million". VentureBeat. http://venturebeat.com/2006/09/27/odesk-marketplace-for-developers-raises-8-million/. 
  11. ^ "oDesk Secures $15 Million In Series C Funding". oDesk Press Releases. oDesk. June 4, 2008. http://www.odesk.com/w/odesk_secures_15_Million_Dollars_series_c_funding. 
  12. ^ "oDesk Raises $15 Million in Funding Round Led by T. Rowe Price". Bloomberg Businessweek. March 22, 2012. http://www.businessweek.com/news/2012-03-22/odesk-raises-15-million-in-funding-round-led-by-t-dot-rowe-price. 
  13. ^ Samuel Dean (2008-10-16). "Interview: oDesk’s CEO on Opportunities for Web Workers". Web Worker Daily. http://webworkerdaily.com/2008/10/16/interview-odesks-ceo-on-opportunities-for-web-workers/. 
  14. ^ Chan, Stacie (April 1, 2011). "Despite Slow Economy, Six County Companies Are Posterchildren for Growth". Patch.com. http://redwoodcity.patch.com/articles/despite-slow-economy-six-county-companies-are-posterchildren-for-growth. 
  15. ^ Posted on March 30, 2011 (2011-03-30). "Announcing the 2011 OnDemand 100 Top Private Companies | AlwaysOn". Alwayson.goingon.com. http://alwayson.goingon.com/AOStory/Announcing-2011-OnDemand-100-Top-Private-Companies. Retrieved 2012-01-12. 
  16. ^ "The 2011 Inc. 5000 List - Jama Software through Davis Strategic Innovations". Inc.com. 1970-01-01. http://www.inc.com/inc5000/list/200. Retrieved 2012-01-12. 
  17. ^ "Top Inc. 5,000 Companies". Inc.com. http://www.inc.com/inc5000/2009/the-full-list.html?o=100. Retrieved 2012-01-12. 
  18. ^ "Valley's fastest growing companies honored". October 14, 2010. http://www.bizjournals.com/sanjose/stories/2010/10/11/daily82.html. 
  19. ^ Young, Eric (October 25, 2010). "CEOs say staying nimble, efficient aids growth". http://www.bizjournals.com/sanfrancisco/print-edition/2010/10/22/ceos-say-staying-nimble-efficient.html. 
  20. ^ Monday, September 14th, 2009 (2009-09-14). "TC50: DemoPit Winner oDesk Launches A Real-Time Work Stream For Your iPhone And Desktop". TechCrunch. http://techcrunch.com/2009/09/14/tc50-demopit-winner-odesk-launches-a-real-time-work-stream-for-your-iphone-and-desktop/. Retrieved 2012-01-12. 
  21. ^ "Emerging Tech award winners honored". December 4, 2009. http://www.bizjournals.com/sanjose/stories/2009/11/30/daily83.html. 
  22. ^ "70 FastPrivate valley companies hailed". October 9, 2009. http://www.bizjournals.com/sanjose/stories/2009/10/05/daily90.html. 
  23. ^ "The 2009 Global Outsourcing 100 Sub-Lists". IAOP. http://www.iaop.org/content/23/152/1859/. Retrieved 2012-01-12. 
  24. ^ http://www.deloitte.com/assets/Dcom-UnitedStates/Local%20Assets/Documents/TMT_us_tmt/us_tmt_2010%20Technology%20Fast%20500%20Winners%20Brochure_191010.pdf
  25. ^ Quain, John (September 27, 2006). "Small Business Awards by PC Magazine: Outsourcing Finalists". PC Magazine. http://www.pcmag.com/article2/0,1895,2021735,00.asp. 
  26. ^ 2007 Technology Fast 500
  27. ^ Finalists for the "Red Herring 100 Global" Awards 2007
  28. ^ 2011 TiE50 Internet/Social Networking Winner

External links