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To: Mark Fowler who wrote (78004)	9/22/1999 4:24:00 PM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 164684

INTERVIEW-Service seller eLance.com raises $10-15m NEW DELHI, Sept 22 (Reuters) - ELance.com, an Internet company which has set up a virtual global marketspace for buyers and sellers of services, is raising more than $10 million from venture capital funds, a key investor said on Wednesday. "We are raising between $10 and $15 million even as we speak. The money will be from California venture capital funds," Ram Shriram, an investor in eLance.com and a director on the company's board, told Reuters in an interview. Shriram, formerly a vice-president of business development at e-commerce pioneer Amazon.com <AMZN.O>, is now an individual investor with a stake in about 15 technology companies. Based in California, he was in Delhi a three-day Internet conference. ELance.com matches buyers and sellers of services that can be easily delivered over the Internet, or by mail, fax, phone or electronic mail. Service buyers can sift through service advertisements from around the world, Shriram said. To get a job done, buyers list a description of a project and service providers submit competitive bids to do it. For standardised services, buyers can browse lists of service descriptions posted by providers and make an instant selection. "We are to services what eBay <EBAY.O> is to products," Shriram said. EBay.com, an online auction site, offers consumer-to-consumer auctions within a single marketplace, where individuals contact each other to buy and sell millions of items in what amounts to the world's largest flea market. REUTERS Rtr 11:46 09-22-99