Company | Profile
TaskRabbit was founded in 2008 among a wave of startups aiming to take advantage of the budding sharing economy. The company originally let freelancers auction off random gigs, but it has since shifted its business model to a fixed-price structure. After COO Stacy Brown-Philpot ascended to the role of CEO in 2016, she made the decision to streamline the company yet again, taking half of its business mobile and trimming down the types of eligible “odd jobs” offered on the platform to on-demand home services, from mounting a flatscreen TV to the wall to busting kitchen suds. As a result of the revamp, TaskRabbit quadrupled revenue within a year, and by 2017 it was profitable in each of the 18 U.S. cities in which it operates. (Companywide profitability is still in-progress.) Taskers now make an average of $35 per hour—nearly five times the federal minimum wage. In November 2016, the company entered a partnership with Ikea to provide exclusive furniture-assembly services at its massive Wembley-area London flagship.