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One of the earliest and most prominent startups\u00a0of the so-called \u201csharing economy\u201d or \u201cgig economy,\u201d is evaluating the possibility of selling itself. As reported by Recode<\/a>, freelance work marketplace\u00a0TaskRabbit<\/a> acknowledged that it is contemplating a sale after receiving inbound interest from a possible strategic buyer.<\/p>\n TaskRabbit launched in early 2008 as a way to match up part-time workers who had spare time with\u00a0various types of odd jobs in their local area.\u00a0In its earliest days,\u00a0the business operated in a very loose marketplace model \u2014 users\u00a0could list jobs they\u00a0needed accomplished and the price they were willing to pay for those services, and so-called \u201cTaskRabbits\u201d could choose to accept those jobs or not.<\/p>\n It was a pretty novel concept at the time, but\u00a0it wasn\u2019t long before a number of other startups cropped up offering similar capabilities. Over time those gig\u00a0economy companies started to position themselves around specific types of work, with many attempting to be the<\/em> place to go for cleaning services or home improvement.<\/p>\n A few more years passed, and after some initial excitement around the gig economy, follow-on venture capital dried up and many of TaskRabbit\u2019s competitors\u00a0either shut down or were acquired for pennies on the dollar.<\/p>\n And so here we are. After raising $38 million dollars from investors like Shasta Ventures, Founders Fund, First Round, Floodgate, CollabFund and others, there\u2019s\u00a0little appetite for other investors to keep putting money\u00a0in companies like TaskRabbit.<\/p>\n 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 of there\u2019s a buyer \u2014 or multiple buyers \u2014 interested.<\/p>\n The only question is who those buyers might be, and how much they might be willing to pay for the business.<\/p>\n Featured Image: Bryce Durbin<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"![\"\"](\"https:\/\/tctechcrunch2011.files.wordpress.com\/2015\/01\/taskrabbit-fire.png?w=680\")
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. Read More<\/a><\/p>\n\n<\/img><\/a>
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