>> Ikea is famously known for its budget flat pack furniture, and perhaps infamously for how difficult it can be to put it together. Social media is full of videos and photos of frustrated DIYers trying to assemble their slice of Swedish life. And it seems IKEA has been listening.
The furniture giant announcing it's buying TaskRabbit, the San Francisco-based odd jobs app. Reuters' Breakingviews columnist, Jennifer Saba, says the deal shows that even IKEA can't build everything.>> The deal came about because TaskRabbit and IKEA were already in a partnership in the United Kingdom. So essentially how that worked is, TaskRabbit is an app that connects people to do certain types of services, like lawn work or that sort of thing.
And IKEA was basically partnering with them to say, hey IKEA shopper, you want someone to put together your bookshelf, go contact somebody on TaskRabbit.>> Under its deep pocketed parent, TaskRabbit should be able to expand. IKEA's 357 stores in 29 countries generated some $40 billion US in worldwide sales last year.
>> So TaskRabbit has been around almost a decade.>> Reports said they have about $50 million in funding, and they were one of the first kind of gig economy, on-demand apps. But a lot of competitors have come in, and there were reports that it was kind of struggling.
>> The corporate marriage could be the solution customers have been waiting for.