THE CHIEF executive of online services exchange Blur Group yesterday claimed his company has the potential to grow to the same size as Amazon or eBay.
Philip Letts, a Silicon Valley veteran who floated Blur last year, said: “As Amazon and eBay have fundamentally changed the way in which consumers buy day-to-day products, Blur is seeking to fundamentally alter the way businesses buy core services.”
“Service commerce is very similar to where e-commerce was 16 or 17 years ago; this industry is a huge opportunity, it’s a wide open market.”
His comments came as Blur, which creates a marketplace for services such as legal, design and technology work on the internet, reported a 216 per cent rise in revenues to $2.8m (£1.8m) for 2012. However, shares in the company fell by 12.6 per cent as its loss before tax widened to $1.87m.
Letts said he was not concerned about the losses, saying that Blur will continue to grow at its current rate and is expected to make a profit next year.