|
||||
Close window |
||||
|
Guru.com Reports Double-Digit Growth for Fiscal Year 2005 Revenue Received by Professionals Increases 58% Over Fiscal Year 2004 Pittsburgh, PA - February 14, 2006 - Guru.com, the world's largest online marketplace for freelance talent, announced a double-digit increase in the amount of total revenues earned by Guru.com professionals during fiscal year 2005, ending 12/31/2005. Guru.com saw this metric increase by 58% versus fiscal year 2004. "Continued adoption of the Guru.com website to find, manage, and pay contract professionals helped us complete another year of strong growth in transaction volume. Introduction of the escrow and dispute resolution services to enable employers and professionals to conduct transactions with complete security proved to be an important innovation for us, sending customer satisfaction to higher levels," said Inder Guglani, Guru.com's CEO and Founder. The two most significant developments during the 2005 year proved to be the introduction of escrow and dispute resolution services and the growth of service buying by non-US employers. The SafePay Escrow and Dispute Resolution services were launched in February of 2005 as a means of greatly reducing transaction risks for both professionals and employers registered with Guru.com. Employers now have the option of placing project funds in a neutral escrow account at the beginning of a project, where they are safely held until the employer approves project work and releases payment to the freelance professional. The SafePay Escrow system is supported by Guru.com's Dispute Resolution Department, which works to resolve conflict between employers and freelance professionals. The escrow process has worked very effectively, with only a small percentage of cases (less than 5%) needing any form of mediation and even a smaller percentage (less than 1%) requiring the services of an arbitrator. Escrow payments increased four-fold between March '05 and Dec '05 as a growing number of employers and professionals embraced the merits of the escrow and dispute resolution services. The introduction of the escrow service along with improvements to the transaction process resulted in strong growth in service buying by non-US employers. Transaction volume by Non-US buyers more than doubled during 2005, increasing 102% over fiscal year 2004. About Guru.com: Guru.com (www.guru.com) is the world's largest online marketplace for freelance talent. Created in August of 2000, Guru.com's web-based marketplace directly connects businesses with freelancers locally, nationally, or globally who specialize in over 160 professional categories including the following: website design, programming, graphic design, business consulting, and administrative support. Employers seeking professional expertise get quotes from professionals on their contract work for free. Professionals seeking work either register as a free (Basic) member or a subscribing (Guru) member. |
||||
 |
||||
|
||||
Close window |
||||
|
||||
