Online marketplace for creative services hits $1 million in awards escrowed since launch
CHICAGO, IL - 17-Mar-09 GMT-
What do you get when you have 17,000 creatives, thousands of buyers, an online platform for projects and nine dudes in a basement running the whole thing? The answer – one million dollars and a start-up success story.
crowdSPRING (http://www.crowdspring.com), an online marketplace for creative services, announced today that they hit the $1 million mark in total awards escrowed since their launch in May 2008. The company, which has turned the traditional creative services industry on its head by fostering the “crowdsourcing” process, has sparked many heated debates on the method they use to connect buyers of creative services with designers. Here’s how it works: entrepreneurs and small businesses who need things designed - everything from logos and stationery to websites and brochures - simply post what they need, when they need it and how much they want to pay. Once posted, more than 17,000 creatives from over 140 countries around the world will submit actual designs – not bids or proposals – for the buyer to review. As the submissions come in, buyers are able to review, sort, rate, provide feedback and collaborate with creatives until they find the “the one.”
crowdSPRING’s business model is different from other freelance design sites as buyers are required to pay up front. crowdSPRING holds that payment in escrow until a winner is chosen. If a buyer does not receive at least 25 entries, they get their money back guaranteed. crowdSPRING also protects the intellectual property of all by offering completely free, customized written legal agreements for every transaction.
“We’re thrilled with this accomplishment,” said Ross Kimbarovsky, co-founder of crowdSPRING. “With more than $1 million escrowed in less than a year, it’s evident that cash-strapped businesses and struggling designers are finding alternatives to getting the job done and finding extra income during this downturn of the economy.”
For more information on crowdSPRING, visit http://www.crowdspring.com,
crowdSPRING is an online marketplace for creative services. For buyers, crowdSPRING is a place to post a creative project, watch the world contribute ideas and choose the one they like. For creatives, crowdSPRING is a global stage for creativity where title and experience don't matter.
crowdSPRING is a privately held company based in Chicago. For more information, visit www.crowdspring.com.