Lime Spot, the company that owns P2P service LimeWire has launched service marketplace in India, LimeExchange that enables SMEs to participate in global project outsourcing by requesting bids, awarding projects, and building relationships with service providers around the world
The service is free for SMEs, however, service providers will have to pay eight per cent of the project fee to the website on the completion of the work (5 available pricing bands depending on # of bids and tenure).
LimeExchange provides buyers with tools to negotiate pricing; award projects; escrow payments; monitor, review, and approve work; and communicate with service providers using e-mail, instant messaging, message boards.
The service marketplace is huge and apart from incumbents like RentACoder, startups like oDesk has made strong inroads (60K Jobs, 53K providers around the world).
Indian service providers have gained substantially from oDesk (total: 8000 providers) and LimeExchange, given it’s global presence can take away some pie from existing sites.
What really concerns me about LimeExchange is that being the late entrant, they aren’t even attempting to disrupt the marketplace. They have prety much the same business model as well as pricing.
What’s your take?
Another startup in this space: NineMotion
tags: limeexchange, ninemotion, odesk, rentacoder
Elance.com has a strong hold in this sector. It has come a long way ever since 1998 [i expect], stucked in dotcom burst, company went in some recession and again regain its potential. Now its a leader.
DIGG.COM is founded from ELANCE.COM here is the success story of Digg [kevin expaling how ELANCE helped him to lanuch digg]
http://www.elance.com/p/corporate/community/resource-center/elance-stories/digg.html
Even Muliti-Million Dollar companies are formed from ELANCE.COM.
Awesome info Mahesh! Didnt know that Digg had elance connection!
Hey thats amazing to know that Digg formed from Elance.com.