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August 12, 2009

oDesk Ranks No. 110 on the 2009 Inc. 500 with Three-Year Sales Growth of 1,470%

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Inc. Magazine Unveils 28th Annual List of America’s Fastest-Growing Private Companies—the Inc. 500

oDesk Ranks No. 110 on the 2009 Inc. 500 with Three-Year Sales Growth of 1,470%

Inc. Magazine today ranked oDesk at 110 on its 28th annual Inc. 500, an exclusive ranking of the nation’s fastest-growing private companies. The list represents the most comprehensive look at the most important segment of the economy—America’s independent-minded entrepreneurs. Companies such as Microsoft (MSFT), Zappos, Intuit, GoDaddy, Under Armour, Jamba Juice, American Apparel, Oracle, and hundreds of other powerhouses gained early exposure as members of the Inc. 500.

“If you want to know which companies are going to change the world, look at the Inc. 500,” said Inc. editor Jane Berentson. “These are the most dynamic, fast-growth companies in the nation, the ones finding innovative solutions to problems, creating smart systems, and inventing products we soon discover we can't live without. The Inc. 500 list is Inc. magazine’s tribute to American business ingenuity and ambition.”

oDesk is the leading marketplace for online workteams with the best business model for both buyers and providers. By working via the oDesk hourly system, buyers are guaranteed that an hour billed is an hour worked, while providers benefit from oDesk's guaranteed payment assurance that an hour worked is an hour paid.

The 2009 Inc. 500, unveiled in the September issue of Inc. magazine and on Inc.com, reported aggregate revenue of $18.4 billion—up significantly from last year’s $13.7 billion—and a median three-year growth rate of 880.5 percent. The companies on this year’s list are also responsible for creating more than 55,000 jobs since their founding, making the Inc. 500 perhaps the best example of the impact private, fast-growing companies can have on the overall U.S. economy.

Despite the ongoing recession, the 2009 Inc. 500 offers a glimpse of the future of the U.S. economy. In the health sector, which saw aggregate revenue of $1.1 billion and a 917 percent median growth rate, businesses are moving forward on cancer and stem-cell research, clinical trials, and medication management. More than 25 percent of companies in the energy sector ($2.5 billion aggregate revenue; 942 percent median growth rate) focus on solar and other alternative sources. Fewer than a third of retailers ($356 million aggregate revenue; 914 percent median growth rate) have even a single brick-and-mortar store. And the number of companies providing technical services to the various branches of the federal government continues to rise.

About oDesk Corporation

oDesk (www.oDesk.com) is the leading marketplace for online workteams with the best model for both buyers and providers:

For buyers: Guaranteed work — every hour billed is an hour worked. Screen captures of each provider's desktop taken at random intervals enable buyers to audit the hours and work completed so they have confidence every hour billed by a remote team member is an hour worked. This capability also enables the buyer to collaborate more closely and re-direct the provider if necessary, much like you do when you manage by walking around your office.

For providers: Guaranteed payment — every hour worked is an hour paid, without the hassle of invoicing or slow-paying clients, making oDesk the preferred marketplace for 300,000+ professional contractors including software engineers, web developers, graphic designers, writers, researchers, administrators, and customer service agents.

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oDesk Contact: Erica Fenik
ericafenik@odesk.com
650-853-4152

Methodology

The 2009 Inc. 500 measures revenue growth from 2005 through 2008. To qualify, companies must have been founded and generating revenue by the first week of 2005, and therefore able to show four full calendar years of sales. Additionally, they had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2008. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2005 is $200,000; the minimum for 2008 is $2 million.

About Inc. Magazine

Founded in 1979 and acquired in 2005 by Mansueto Ventures LLC, Inc. (www.inc.com) is the only major business magazine dedicated exclusively to owners and managers of growing private companies that delivers real solutions for today’s innovative company builders. With a total paid circulation of 712,961, Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology. Visit us online at Inc.com.

About the Inc. 500|5000 Conference

Each year, Inc. and Inc.com celebrate the remarkable achievements of today’s entrepreneurial superstars—the privately held small businesses that drive our economy. The Inc. 500|5000 Conference & Awards Ceremony brings together members of the Inc. 5000 community, both a new class of Inc. 5000 honorees and the list’s alumni, for three days of powerful networking, inspired learning, and momentous celebration. Please join us September 23–25, 2009, at the Gaylord National Resort and Convention Center in National Harbor, Maryland. For more information about the 2009 Inc. 500|5000 Conference & Awards Ceremony, and to register, visit www.Inc5000event.com. Stay connected with Inc. Events by following @IncEvents on Twitter.

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