IKEA acquires TaskRabbit
Swedish home goods giant Ikea Group has bought TaskRabbit, according to sources close to the situation.
The price of the deal could not be determined, but the contract labor marketplace company has raised about $50 million since it was founded nine years ago. Sources added that TaskRabbit will become an independent subsidiary within Ikea and that CEO Stacy Brown-Philpot and its staff would remain.
Sources also noted that Ikea would add capital to the company, although that amount could not be determined. TaskRabbit, which is now profitable, will also be able to strike other partnerships, such as one it already has with Amazon.
The purchase of TaskRabbit was fueled by Ikea’s need to further bolster its digital customer service capabilities to better compete with rivals likes Amazon, which has stepped up its home goods and installation offerings. The purchase is Ikea’s first step into the on-demand platform space.