IKEA Group signs agreement to acquire TaskRabbit
Published: 29 September 2017 - Kiran Grewal
IKEA Group (Ingka Holding B.V. and its controlled entities), the world’s largest home furnishing retailer, has signed a conditional agreement to acquire 100% of the shares in TaskRabbit, Inc., an on-demand services platform company. TaskRabbit currently operates in the United States and London (UK) and will continue to function as an independent company.
“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,” says Jesper Brodin, President and CEO of IKEA Group.
TaskRabbit connects consumers with skilled Taskers to handle everyday needs such as furniture assembly, moving and packing, general handyman work, and home improvements. Taskers are performing thousands of tasks every day through the platform. The company has recently expanded its presence to 40 cities in London (UK) and the United States. In November 2016, IKEA Group started a successful pilot with TaskRabbit and the IKEA stores in London to enable furniture-assembly services by Taskers to IKEA customers.
Once completed, the acquisition would enable IKEA Group to provide consumers and IKEA customers with access to the services provided by the TaskRabbit Taskers. In addition to supporting consumers and IKEA customers in the United Kingdom and the United States, other countries may be added at a later date.
“Through our unique on-demand platform, TaskRabbit is making life better for both consumers and Taskers. In the communities in which we operate, TaskRabbit provides strong economic impact. 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,” says Stacy Brown-Philpot, TaskRabbit CEO.
