Freelancer.com - Project Quantity and Marketplace Size
Like several of its competitors, Freelancer.com calls itself the “largest” site of its type. This is true in some respects: when it comes to the total number of users, it has no equal; its website is also among the most active, and its number of projects posted is also up there with the biggest of sites. However, Freelancer.com’s average project size is rather small, and as a result, it trails oDesk and Elance in monthly billings.
It’s worth noting that Freelancer.com has grown dramatically in the last year, and any reporting on its past performance is especially likely to be inapplicable to what happens in the future. Its growth has been the result of some bold marketing and acquisition moves by its management, including the purchase of the “Freelancer.com” domain name, the launching of several country-specific sites, and the purchase and integration of the failed job marketplace LimeExchange.com.
Freelancer.com has always been a pretty high-volume marketplace, but has grown dramatically in project quantity since I first used it at around the end of 2008. As mentioned above, this has been partly due to acquisitions and expansions undertaken by its owners and managers. The company is continuing to grow, so its market size will likely increase.
This company does not make as much pertinent data available as some of the other marketplace sites. According to WhichLance, 86,343 projects were posted on the site in the third quarter of 2010, which is of course a little less than 1,000 per day.
The Freelancer.com site provides a regularly-updating total of new projects posted in the last 24 hours, which as of this writing stands at 1,331. Since I am writing this on a weekday, and most sites are less active on weekends, a decent guess at average project volume would be about 1,250 per day.
These figures probably put Freelancer.com in third place for projects posted, behind Elance and oDesk. Note that Freelancer.com is primarily a fixed-price project marketplace, while oDesk is more oriented towards hourly work. However, oDesk still appears to be larger in terms of projects posted on a daily basis.
Freelancer.com may be in the same ballpark as its competitors in terms of project listings, but it trails them in terms of project billings. The company does not make extensive sets of statistics available, but it is possible to glean relevant information from other sources and from its press releases.
WhichLance’s third quarter 2010 market review reports $6.1 million in billings for Freelancer.com. The same report indicated that Freelancer.com had at that time accumulated total lifetime billings of $65 million. As of February 2011, Freelancer.com was reporting a total figure of $82 million, suggesting the company is undergoing rapid growth. However, it is still well behind Elance and oDesk, which are in the $30 to $40 million per quarter range.
Freelancer.com blows even the other big sites away in terms of number of users. The company does not keep separate statistics on contractors and clients, but claims a total of over 2.1 million users as of this writing, with over 2,000 new users being added daily. This is much, much larger than any other site.
Freelancer.com’s current traffic rating on Alexa is 307. This is very good, and puts the company in the same ballpark as oDesk.com, and a little ahead of Elance.
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