Quess Corp Limited, a major private sector employer and a prominent business services provider, has acquired Taskmo, a gig economy platform.
Founded in 2020 by Prashant Janadri and Naveen Ram, Taskmo has quickly emerged as a prominent player in the gig economy, connecting businesses with on-demand talent for various tasks and projects.
Taskmo has seen hyper growth of 20X in the last 2 financial years as it files around 1 crore to 20 crore in revenue for FY21 and FY23 respectively. Taskmo has been working with companies like Jiomart, Amazon, Flipkart, Meesho, Zomato, Rapido, Uber, Ola, HDFC, Swiggy and many more, the company said in a statement.
Taskmo raised its first round of funding $1.4 million with Quess in 2021 and followed by equity and debt rounds by the same strategic investor. The acquisition by Quess Corp, which was an early investor in Taskmo, reflects the company's confidence in Taskmo's business model and its potential for further expansion.
"For the past 3-4 years, we worked tirelessly in creating social impact through earning opportunities for gig workers and building gig culture in India.," said Janadri.
"As we experienced a little shyness from workers to opt for gig work in our early days, but our seamless opportunities with the ease of product helped us serve more than 35,000 unique taskers or gig workers so far. Our aspiration in creating earning opportunities for the youths has not been completed yet, we will keep thriving to create digital platforms for this impact."
Ram said, “It’s fascinating to see, a journey started from a Facebook page has evolved into India’s leading gig marketplace and got acquired by Quess. This journey from building it from scratch to successful acquisition has taught us a lot of lessons.”.
Prashant Janadri and Naveen Ram, took an exit after scaling 20X in the last two financial years and completing the company's acquisition by Quess, the company said in a statement.
