November 26, 2014 Comments Off on The future of work
It’s called the Freelance Economy. Everywhere you look, the global work force is undergoing a massive change. Today, work can be divided into small tasks then farmed out to a worldwide community of freelancers. According to a study commissioned by the Freelancers Union and Elance-oDesk, in the US, roughly 42 million Americans today are estimated to be freelancers. It is also predicted that by 2020, up to 50% of the total workforce in the States could be dominated by freelancers. So why the shift? The market is changing. The Internet has made it possible for people around the world communicate online, allowing people from across the globe to work together on projects. Hiring a freelancer is cost efficient for most businesses and just as effective as hiring a full-time worker. A freelancer who works from home has no overhead costs and can offer lower rates. For freelancers, freelancing allows them to set their own hours, giving them a kind of flexibility they will never experience when working full-time. The booming freelance market has also given rise to a number of global service marketplaces like Freelancer.com, Elance, oDesk and Fiverr, to name a few. Australia-based Freelancer.com is the world’s largest crowdsourcing & freelancing marketplace. Competitors Elance and oDesk merged in December of 2013, creating a behemoth that serves nearly 2 million businesses with 8 million freelancers in over 180 countries.
Today, Elance-oDesk received $30 million in a funding round led by Benchmark Capital. You can read about the funding here.
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