British tech firm Blur claims it will be the Amazon of services

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.