TaskRabbit Is Exploring a Sale
TaskRabbit Inc., an online marketplace for errands and one-off jobs, is looking into selling itself after receiving interest from a potential buyer.
The San Francisco startup declined to name the suitor. A spokeswoman said TaskRabbit is "exploring options opportunistically." The move was reported earlier Friday by technology website Recode.
TaskRabbit was founded in 2008 by Leah Busque, who wanted to be able to pay someone to buy dog food for her pet. From there, the company became known as a pioneer of the "gig economy," though it has struggled to find its place among heavily capitalized competitors.
Last year, when TaskRabbit raised more funds, it significantly lowered its valuation in order to appeal to investors. Busque stepped down as chief executive officer and was replaced by Stacy Brown-Philpot, a former Google executive. Brown-Philpot had promised to make the company profitable by the end of 2016 but later backed away from the projection. A spokeswoman said the company is cash-flow positive at the city level and is close to turning a profit.