$10 Million Spent To Date On oDesk OutSourcing Projects

oDeskSilicon Valley based oDesk, which is a marketplace for developers and companies looking for outsourced developer help, seems to be sailing along nicely. Next week they’ll announce that $10 million has been spent on outsourced projects to date, and they have 750,000 or so total billed hours. That’s up 50% from last November, when we reported that they had reached 500,000 billed hours. oDesk keeps a flat 10% of fees.

Until recently oDesk only allowed projects to be priced on an hourly basis. Two weeks ago they launched fixed price jobs as well, which is something many comments here requested in our previous posts about them. After a month of quiet beta testing, 750 jobs were posted at a fixed price, with an average price of around $500

The company says their top markets for buyers are the U.S., the U.K., Canada, Saudi Arabia and Australia, while the most popular markets for providers are India, Russia, the Ukraine, the U.S. and the Philippines. The programming skills most in-demand are PHP/MySQL, C#/.Net, ASP, Java/J2EE and C/C++/Win32SDK.

oDesk is based in Menlo Park and they have raised $6M from Sigma Partners and Globespan.