I'm working on a new start-up and one of the "to do" items was create a logo for our new company. The typical path is to find a graphics artist, hope they're good for you, pay them some money, they generate some samples and you go from there. It's hit or miss.
We wrote up a basic project description of our company and logo needs, put an award amount of $250 and a time period of 7 days and begain the wait process. In less than 24 hours, a few designers had submitted samples. A few were horrid, a few OK, but a few held promise. There was hope.
You can rate and comment on the samples provided as well as continue to update your project description during the bidding period. We did and the designers all seemed to respond quickly to our input.
Turns out our designer was in India and I'm not sure whether he slept or not, because no matter the time, if we had a question, he seemed to respond in a matter of hours. Needless to say, my marketing colleagues were surprisingly impressed such that we're looking now to use CrowdSpring for other graphic projects as well.