This is an interesting move by IKEA - by partnering with TaskRabbit it has effectively acquired a wider installation capability without having any brand association, and all thanks to the 'gig' economy.
The acquisition allows a company whose growth has been driven by a cost-conscious consumer base to capitalise on their changing requirements; whilst still value-sensitive, consumers, particularly millennials, increasingly prioritise time over cost.
Where could this kind of 'quasi-vertical integration' go? Toyota to acquire Uber (a statement by Uber suggests that 40% of its vehicles are Priuses)? McDonald's to acquire Deliveroo?
Watch this space...
TaskRabbit is one of the best-known startups in the so-called “gig” economy that links freelance workers with jobs, from handymen to movers to assistants. It has about 60 employees, but over 60,000 independent workers use its platform. The purchase of TaskRabbit was fuelled by IKEA's need to further bolster its digital customer service capabilities to better compete with rivals likes Amazon, which has stepped up its home goods and installation offerings. The purchase is IKEA's first step into the on-demand platform space.