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ISSUE – Sep. 30 | Ikea has bought TaskRabbit

Swedish home goods giant Ikea Group has bought TaskRabbit, according to sources close to the situation. The price of the deal could not be determined, but the contract labor marketplace company has raised about $50 million since it was founded nine years ago. Sources added that TaskRabbit will become an independent subsidiary within Ikea and that CEO Stacy Brown-Philpot and its staff would remain.

Sources also noted that Ikea would add capital to the company, although that amount could not be determined. TaskRabbit, which is now profitable, will also be able to strike other partnerships, such as one it already has with Amazon. [ Recode ]

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