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IKEA Acquires TaskRabbit

IKEA Acquires TaskRabbit
Credit: taskrabbit.com

Ready-to-assemble Swedish furniture giant (and meatball powerhouse) IKEA has acquired the task-on-demand startup TaskRabbit. Financial terms of the deal were not disclosed. The transaction is expected to complete in October.

The acquisition will enable IKEA Group to provide consumers with access to services provided by TaskRabbit Taskers — most specifically Ikea furniture assembly. In addition to supporting consumers and IKEA customers in the United States and the United Kingdom, TaskRabbit’s services may be extended by IKEA to additional countries at a later date.

TaskRabbit allows users to get on-demand help with everyday chores such as cleaning, delivery, moving, handyman services, and of course furniture assembly. The company has recently expanded its presence to 40 cities around the U.S. and greater London.  In November, 2016, IKEA Group started a successful pilot with TaskRabbit and IKEA stores in London to enable regular furniture-assembly services by Taskers for IKEA customers. TaskRabbit had previously raised $37.68 million from leading investors including 500 Startups, Baseline Ventures, First Round Capital, and Lightspeed Venture Partners.

“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,” said Jesper Brodin, president and CEO of IKEA Group. 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 [with] additional ways to access flexible and affordable service solutions to meet their needs.”