Sep 29, 2017

Ikea buys TaskRabbit and gets into gig economy

Photo: Markus Schreiber / AP

Ikea has acquired TaskRabbit, a San Francisco-based on-demand platform for everyday chores. No financial terms were disclosed, although a source close to the deal puts the price tag south of $75 million. TaskRabbit had raised around $50 million in VC funding.

Why it matters: Well, it's obviously not the ROI for TaskRabbit's venture capitalists. Instead, it's partially because of the novelty of IKEA buying a well-known Silicon Valley startup, and partially because the Swedish retail giant is voluntarily wading into the legal morass of "gig economy" contractors.

Synergy: TaskRabbiters were regularly asked by users to assemble Ikea furniture.

TaskRabbit investors included 500 Startups, Baseline Ventures, Collaborative Fund, Floodgate, Founders Fund, Lightspeed Venture Partners and Shasta Ventures.

Go deeper: "In the US, Ikea delivery starts at $59 and assembly starts at $89, an anachronism in an era of cheap on-demand labor and free two-day delivery. Small wonder that people were turning to TaskRabbit instead." — Quartz's Alison Griswold, who argues that America's DIY spirit is dying.

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Trump says RBG and Sotomayor should recuse themselves from his cases

President Trump at Sardar Vallabhbhai Patel International Airport in Ahmedabad, India, on Monday. Photo: Mandel Ngan/AFP via Getty Images

President Trump tweeted during his India visit late Monday that Supreme Court justices Sonia Sotomayor and Ruth Bader Ginsburg should "recuse themselves" from cases involving him or his administration.

Why it matters: The president's criticism of the liberal justices comes after he attacked the judge overseeing the case of his longtime advisor Roger Stone, who was sentenced last Thursday to 4o months in prison for crimes including lying to Congress and witness tampering.

Deadly clashes erupt in Delhi as Trump visits India

Rival protesters over the Citizenship Amendment Act in Delhi, India, on Monday. Photo: Yawar Nazir/ Getty Images

Delhi Chief Minister Arvind Kejriwal called for calm Tuesday as deadly clashes erupted in the city's northeast between supporters and opponents of India's controversial new citizenship law.

Why it matters: Per the BBC, a police officer and six civilians "died in the capital's deadliest day" since last year's passing of the Citizenship Amendment Act — which allows religious minorities but excludes Muslims from nearby countries to become citizens if they can show they were persecuted for their religion — as President Trump and members of the U.S. first family are in Delhi as part of a two-day visit to India, though it's away from the violence.

Go deeper: India's citizenship bill continues Modi's Hindu nationalist offensive

South Carolina paper The State backs Buttigieg for Democratic primary

Democratic presidential candidate and former South Bend Pete Buttigieg speaks at an event in Charleston, South Carolina on Monday. Photo: Win McNamee/Getty Images

South Carolina newspaper The State endorsed former Southbend Mayor Pete Buttigieg on Monday night for the state's Democratic primary.

Why it matters: It's a welcome boost for Buttigieg ahead of Tuesday's Democratic debate in South Carolina and the state's primary on Saturday.