IKEA is planning to acquire TaskRabbit so that customers don’t have to assemble their own furniture.
IKEA says that it has singed a conditional agreement that will have it buying 100% of TaskRabbit’s shares. It is expecting the deal to close during October. Once the deal is complete, TaskRabbit will continue to operate as an independent company.
TaskRabbit is a company that allows users to hire other people to perform services for them. These people are called Taskers. The services that are offered through the company are moving and packing, handyman work, home improvements and, of course, furniture assembly.
TaskRabbit currently operates in 40 cities in the United States and in London. There are also plans to expand its services out to other countries. Its acquisition means that both IKEA and its customers will gain access to its services. IKEA’s decision to acquire TaskRabbit follows a successful pilot program in London that took place late last year.
IKEA says that it is keeping TaskRabbit as an independent company so that it can continue to work with others. This includes the possibility that retailers and other companies will hire Taskers to complete tasks for them. It will also still continue to operate out of its current headquarters in San Francisco.
“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,” Stacy Brown-Philpot, CEO of TaskRabbit, said in a statement.
As of this writing, William White did not hold a position in any of the aforementioned securities.
