Ikea buys TaskRabbit and gets into gig economy
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.