IKEA is now buying sharing economy: TaskRabbit is now IKEA!

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IKEA have just finished the shopping of online task platform startup, TaskRabbit. IKEA announced that the transaction was signed on 25 September 2017. The transaction is expected to close in October.

 

“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,” said Jesper Brodin, president and CEO of IKEA Group, in a press release.

 

After the completion of the transaction, IKEA Group will fully own TaskRabbit, which will remain a standalone company and operate as an independent company within the IKEA Group.

 

As TaskRabbit is providing its tasks for the delivering and assembly of IKEA furniture, there will be more synergy after the acquisition of TaskRabbit by IKEA. Prior to this M&A, IKEA has been doing a lot of IT related stuffs as;

 

  1. IKEA and Apple are planning an augmented reality app that lets customers “visualize what Ikea products will look like in their own homes, before buying the products.”The app, scheduled for release in the fall, would let shoppers virtually preview Ikea furniture in 3D in their homes before committing to a purchase.

 

  1. Mini-stores are in the expansion. As you all know that IKEA is the other name of megastores in the suburbs. But it started opening smaller outlets that are closer to city centers in 2015. There are now 44 of the stores — some of which are roughly one-tenth the size of a typical Ikea — in countries including the U.K., Canada, Norway, Italy, Japan and China.Customers are able to place orders online, and then collect their items from local stores with less hassle.

 

As such, TaskRabbit will continue to partner with other retailers and commercial partners in this capacity. TaskRabbit will remain headquartered in San Francisco. Founded by Leah Busque in 2008, TaskRabbit had raised more than $37 million.

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