Tradeshift is a web based business network and free invoicing platform founded by Christian Lanng, Mikkel Hippe Brun and Gert Sylvest and first launched in May 2010. By February 2011, it had active users in more than 150 countries. The rapid adoption of the service drew attention from international media, including Wired and Financial Times. Competitors include Tungsten Network, Ariba, OB10, Procurify, Coupa and Maventa.com. In March 2012, the company released an invoice processing product called CloudScan, which aims to completely remove the burden of invoice handling work for its clients. This technology stream is known in the industry as Cloud Invoicing, which Tradeshift says guarantees a ‘barrier-free’ exchange of structured documents.