On-demand platform for hiring people, TaskRabbit has been acquired by Ikea, a multinational group. Ikea has confirmed the acquisition and said that TaskRabbit will continue to operate independently.
Reports suggests that Ikea and TaskRabbit signed the deal earlier this week on September 25. The deal is expected to officially close in October this year. Financial terms of the deal are unknown.
As per the deal, the CEO and the staff of Task Rabbit will remain on board and continue to fulfill their partnerships with other retailers. The deal is going to benefit Ikea furniture as it is hard to put together the work alone and the venture can require help from an able-bodied person via TaskRabbit.
IKEA is a multinational group, headquartered in the Netherlands, that designs and sells ready-to-assemble furniture, kitchen appliances, and home accessories. The company is touted as the world’s largest furniture retailer since 2008.
Commenting on the acquisition, Ikea’s CEO Jesper Brodin, said:
In a fast changing retail environment, we continuously strive to develop new and improved products and services to make our customers’ lives a little bit easier. Entering the on-demand, sharing economy enables us to support that. We will be able to learn from TaskRabbit’s digital expertise, while also providing IKEA customers additional ways to access flexible and affordable service solutions to meet the needs of today’s customer.
TaskRabbit is an online and mobile marketplace that matches freelance labor with local demand, allowing consumers to find immediate help with everyday tasks, including cleaning, moving, delivery and handyman work.
The company had previously raised around $38 million from investors like Founders Fund, First Round, Floodgate, and others.
Stacy Brown-Philpot, TaskRabbit CEO, said:
With IKEA Group ownership, TaskRabbit could realize even greater opportunities; increasing earning potential of Taskers and connecting consumers to a wide range of affordable services.
Ikea had partnered with TaskRabbit in December last year to have the on-demand handyperson startup become its official furniture assembler in London. And in April, it was reported that TaskRabbit was looking to sell itself to a strategic buyer.