Navigating the Startup Funding Labyrinth

One snowy night in Boston, Leah Solivan ran out of dog food for her 100-pound yellow lab. She wondered: shouldn’t I be able to resupply Kobe without going to the store? That was the origin of TaskRabbit, an online errand service that matches users with “taskers” to do deliveries and other chores. When Leah left her IBM job to start coding the service, the peer-to-peer economy was still in its infancy. But she saw that three important developments—mobile, location services, and social media—were about to converge. She recruited errand-runners from Craigslist, and took an expensive gamble on a 15-minute meeting with Tim Ferriss to get advice and investors. After some management hiccups and a difficult rebranding, TaskRabbit sold to IKEA in 2017. 

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