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VWorker

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vWorker.com
vWorker Logo
vWorker Logo
Type of businessPrivately held company
Founded2001 (2001)
HeadquartersTampa, Florida
Founder(s)Ian Ippolito, CEO
IndustryInternet
URLhttp://www.vworker.com/
Current statusOnline

vWorker connects businesses and entrepreneurs to experts in hundreds of fields via the internet. vWorker differs from traditional hiring because of additional protections. Employers are guaranteed to receive their money back if they don't get what was promised. And workers are guaranteed payment if they do deliver as promised. These guarantees are made possible with several site features including escrowing, arbitration and the AccuTimecard [1] (software which monitors the worker's desktop and optional webcam).

The "v" in vWorker stands for "virtual", which means "made accessible from afar by technology". A virtual worker is a professional who works remotely, rather than in an office.[2] Prior to April 15th, 2010, the site was called "Rent a Coder".

Service

vWorker allows employers to post projects and jobs on the web site. Workers that are registered with the site then compete for the opportunity to work on them by posting bids. The employer is free to choose the bid they prefer and then escrows the funds with vWorker. When the job is completed, the employer authorizes release of the funds to the worker. If there is a dispute over the funds, vWorker steps in with free arbitration.

Employers don't pay any fees to list their jobs and vWorker doesn't make any money unless the project is successful. If it is, vWorker charges 6.5%-9% on pay-for-time (hourly) projects and 7.5%-15% on pay-for-deliverables (fixed price) projects.[3] vWorker does not charge any subscription fees to workers.

Guarantees

vWorker guarantees are what make it unique from traditional hiring:

  • Employer Guarantees [4]
    • Triple-point money-back guarantee: The work will be to-contract, on-time and on-budget or the employer gets their money back.
    • Honest billing money-back guarantee: The worker will bill time accurately to the minute and only bill time for the project, or the employer gets their money back.
  • Worker Guarantees [5]
    • Pay-for-deliverables payment guarantee: If the worker meets the triple-point guarantee (to-contract, on-time and on-budget) they will be paid.
    • Pay-for-time payment guarantee: If the worker bills their time accurate and only bills time for the project, they will be paid.

These guarantees also differentiate vworker from industry competitors.[6][7]

Recognition

This vWorker business model has been written about in Business Week,[8] Fast Company [9] and Entrepreneur magazines.[10] The company is a four time winner of the INC. 5000 award for fastest growing private companies in the United States.[11]

History

The vWorker Office
The vWorker Office
  • In 2001, vWorker was founded in Tampa, Florida by Ian Ippolito. At that time, it was called Rent A Coder and focused mainly on programmers. It was the first online marketplace to protect all site users with escrowing and arbitration (which was both mandatory and at no extra charge).[12]
  • In July 2001 it moved from an open bidding system to a closed bidding system.[13]
  • In late 2007, the site was awarded the INC 5000 award for fastest growing private companies in the United States.[11] (Subsequent awards were also received in 2008,[14] 2009 [15] and 2010.[16])
  • By early 2010 it had reached 150,000+ employers and 350,000+ workers. The site formally introduced two money-back guarantees for employers (Triple-point money-back guarantee, and Honest billing money-back guarantee), and the two payment guarantees for workers.
  • On April 15, 2010, it expanded to a hundred new work categories and changed its name to vWorker to reflect the wider site audience.[10]
  • On May 26, 2011, vWorker announced the new Tech Sherpa program: it's hired version of the traditional "technical cofounder" [17].

Controversy

In 2004, workers in Livingston County, New York accidentally released private information about low-income and foster care families on the vWorker web site while posting a project.[18] vWorker has also been used by programming students to cheat on their homework.[19] Site users and members of the general public can remove similar such sensitive materials from the site by using its copyright / intellectual property complaint system.[20]. Professors can use the same system to remove projects for homework (since the professor who created the homework owns the copyright to it).

References

  1. ^ AccuTimecard and Pay-for-time overview
  2. ^ vWorker: About Us
  3. ^ vWorker Fee
  4. ^ vWorker Employer Guarantee
  5. ^ vWorker Worker Guarantee
  6. ^ Comparison of vWorker Employer features to competitors
  7. ^ Comparison of vWorker Worker features to competitors
  8. ^ Kenton, Christopher (April 11, 2003). "The Woman Behind the Code". Business Week.
  9. ^ Kirsner, Scott (January 1, 2006). "The eBay of Programmers". Fast Company.
  10. ^ a b Ohngren, Kara; Wang, Jennifer (June 2010). "100 Most Brilliant Ideas On our Radar". Entrepreneur.
  11. ^ a b Inc 5000 2007 award for 'Fastest growing private companies', 2007
  12. ^ Shazada, Usman (May 2011). "An interview with Ian Ippolito, CEO and Founder of vWorker".
  13. ^ Ippolito, Ian (July 7th, 2001), vWorker Closed Bidding Announcement {{citation}}: Check date values in: |date= (help)
  14. ^ Inc 5000 2008 award for 'Fastest growing private companies', 2008
  15. ^ Inc 5000 2009 award for 'Fastest growing private companies', 2009
  16. ^ Inc 5000 2010 award for 'Fastest growing private companies', 2010
  17. ^ vWorker blog: Tech Sherpa announcement
  18. ^ Sullivan, Bob (February 8, 2004). "Government Agency Exposes Day-Care Data". MSNBC.
  19. ^ Gomes, Lee (January 18, 2006). "Some Students Use Net To Hire Experts to Do Their School Work". Wall Street Journal.
  20. ^ vWorker: Copyright or Trademark Infringement/Patent Violation Polices and Procedures
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