7 Aug 2013 07:00
7 August 2013
blur (Group) Plc
("blur Group" or the "Company")
blur Group steps up to deliver $5m+ projects
blur Group - the company that is reinventing commerce at blurgroup.com - today announces that it will be increasing the project bands on the Global Services Exchange to receive projects over $5m, ahead of schedule.
When blur 3.0 was launched in April 2013, the project band sizes were increased to be able to facilitate individual projects of up to $1m. Following this, the Company has seen an increasing flow of projects between the $500,000 - $1m mark. Now the upper cap has been adjusted to $5m, to enable larger businesses and project sizes to run through the Exchange and gain the benefits of s-commerce.
blur Group CEO, Philip Letts explained: 'Following our oversubscribed round of secondary fundraising, we had said that we were going to use some of the funds to help us attract new and larger businesses to the Global Services Exchange. Since the launch of blur 3.0, we have had a strong flow of larger projects so we are now increasing the project ranges to $5m+. With the continued consolidation of large service providers ringing alarm bells globally, the Exchange is providing a powerful alternative for businesses wanting efficient services solutions appropriate for the digital age. This demand has therefore accelerated a platform change ahead of schedule. This increase helps us continue to create a global meritocracy online, whereby companies and providers of different sizes can work together to deliver best results."
-ENDS-
For further information please contact:
blur (Group) plc | investors.blurgroup.com |
Ravi Pau, PR Manager / James Davis, CFO | Tel: +44 20 3176 0548 |
N+1 Singer | |
Shaun Dobson / Matt Thomas | Tel: +44 20 7496 3000 |
Newgate Threadneedle | |
Caroline Evans-Jones/ Josh Royston/ Hilary Millar | Tel: +44 20 7653 9850 |
About blur (Group) plc at blurgroup.com
blur Group is a technology company reinventing how businesses do commerce at blurgroup.com. Its Global Services Exchange delivers services differently: a new way to buy, manage and pay for core services. Over 30,000 businesses in 141 countries have adopted this s-commerce platform and changed the way they work.
blur Group (BLUR) is a public company headquartered in the UK with offices in the US and Europe. It is listed on the London Stock Exchange's AIM market. blur was founded in January 2006 and launched in alpha in 2007 with the full, formal launch of the Global Services Exchange in January 2010. At that time, just over three projects per month were submitted. Now, nearly 150 projects start on the exchange each month. Customers include Danone, Broadridge, Coral, Exceed, HCA, Momentive, Red Commerce, the Financial Times, Berlitz, Butlins, GE Healthcare and Tyco. Over the same time, average project value has grown from approximately $1,500 in 2010 to $22,943 in Q2 2013.
Today, over 2,400 projects have been submitted with a combined value of above $37.0 million. These have come from the US, UK, Europe, Africa and Asia with over 29,000 expert service providers on eight exchanges responding to them.