Why TaskRabbit Is One Of The Most Innovative Companies Of 2017

Thanks to a few key moves, the sharing-economy pioneer has quadrupled annual revenue—and enabled workers to earn a healthy income.

Why TaskRabbit Is One Of The Most Innovative Companies Of 2017
TaskRabbit’s new app matches taskers with jobs in under five minutes, CEO Stacy Brown-Philpot says. “New Yorkers are faster. They’re down to one minute.” [Photo: Chloe Aftel]

At a time of anxiety about jobs and living wages, TaskRabbit has emerged as a leading platform for people looking to earn extra cash—mainly because it is the rare sharing-economy arrangement that can yield significant income.

“We’re helping good, hardworking people find meaningful opportunities,” says CEO Stacy Brown-Philpot. Her company has enabled workers to earn an average of $35 per hour (nearly five times the federal minimum wage) by shifting away from a model that has “taskers” bidding to win jobs to one that lets them set fixed prices for services, which include minor home repairs and house cleaning.

In 2016, Brown-Philpot launched a mobile app that has sped the matching of taskers with tasks, and prioritized on-demand home services, a growing market. As a result, TaskRabbit has quadrupled annual revenue and is profitable in each of its 18 cities. Brown-Philpot is raising the company’s profile further by forging partnerships with major brands: TaskRabbit is now Ikea’s exclusive service provider for help assembling items purchased at its London flagship.

This article is part of our coverage of the World’s Most Innovative Companies of 2017.


More Stories