Gig economy stalwart TaskRabbit is contemplating a sale

One of the earliest and most prominent startups of the so-called “sharing economy” or “gig economy” is evaluating the possibility of selling itself. As reported by Recode, freelance work marketplace TaskRabbit acknowledged that it is contemplating a sale after receiving inbound interest from a possible strategic buyer.

TaskRabbit launched in early 2008 as a way to match up with various types of odd jobs in their local area part-time workers who had spare time. In its earliest days, the business operated in a very loose marketplace model — users could list jobs they needed accomplished and the price they were willing to pay for those services, and so-called “TaskRabbits” could choose to accept those jobs or not.

It was a pretty novel concept at the time, but it wasn’t long before a number of other startups cropped up offering similar capabilities. Over time, those gig economy companies started to position themselves around specific types of work, with many attempting to be the place to go for cleaning services or home improvement.

A few more years passed, and, after some initial excitement around the gig economy, follow-on venture capital dried up and many of TaskRabbit’s competitors either shut down or were acquired for pennies on the dollar.

 And so here we are. After raising $38 million dollars from investors like Shasta Ventures, Founders Fund, First Round, Floodgate, CollabFund and others, there’s little appetite for other investors to keep putting money in companies like TaskRabbit.

So what now? All indications are that handyman services, light home renovation and furniture assembly are going to end up being a billion-dollar business. So it makes sense that TaskRabbit would explore the possibility of a sale if there’s a buyer — or multiple buyers — interested.

The only question is who those buyers might be, and how much they might be willing to pay for the business.

admin

Related Posts

Health benefits of Forskolin supplements

Comments Off on Health benefits of Forskolin supplements

BookMyChotu.com Will Send Helpers to Stand in ATM Queues for You

Comments Off on BookMyChotu.com Will Send Helpers to Stand in ATM Queues for You

Google releases new designer watch faces for Android Wear

Comments Off on Google releases new designer watch faces for Android Wear

Flipkart Mobile Bonanza Sale Starts Monday: Asus ZenFone Max Pro M1, Poco F1, Realme 2 Pro, Other Discounts Previewed

Comments Off on Flipkart Mobile Bonanza Sale Starts Monday: Asus ZenFone Max Pro M1, Poco F1, Realme 2 Pro, Other Discounts Previewed

Sundar Pichai expected to launch revamped Android One range in India on December 16th

Comments Off on Sundar Pichai expected to launch revamped Android One range in India on December 16th

Idea Cellular launches 4G services in India

Comments Off on Idea Cellular launches 4G services in India

Medical Negligence Experts Provide Support For All Types Of Negligence Claims

Comments Off on Medical Negligence Experts Provide Support For All Types Of Negligence Claims

Unique Power and Strength of Clenbuterol Supplement

Comments Off on Unique Power and Strength of Clenbuterol Supplement

Throw a good party with a tasty cake

Comments Off on Throw a good party with a tasty cake

Shilpa Shetty and Raj Kundra introduce Viaan Mobiles, launch a feature phone and four smartphones

Comments Off on Shilpa Shetty and Raj Kundra introduce Viaan Mobiles, launch a feature phone and four smartphones

Use Nintendo Switch controllers with the NES Classic with this adapter

Comments Off on Use Nintendo Switch controllers with the NES Classic with this adapter

Create Account



Log In Your Account