Naveen Ram, Co-founder and COO of Taskmo and Prashant Janadri, Co-Founder and CEO, Taskmo
Bengaluru, April 4, 2024: Taskmo, a leading gig economy platform, has been acquired by Quess Corp Limited, a leading business services provider and the country’s largest private sector employer. The acquisition marks a significant milestone for Taskmo as it enters a new chapter of growth and innovation in the gig economy space.
Founded in 2020 by Prashant Janadri and Naveen Ram with the vision of revolutionizing the gig economy, Taskmo has been at the forefront of providing flexible and rewarding work opportunities to individuals across India. 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 1Cr to 20Cr in revenue for FY21 and FY23 respectively. Taskmo has been working with marquee companies like Jiomart, Amazon, Flipkart, Meesho, Zomato, Rapido, Uber, Ola, HDFC, Swiggy and many more.
Taskmo raised its first round of funding $1.4Mn 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 Prashant Janadri, Co-Founder and CEO, Taskmo. “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.”
Naveen Ram, Co-founder and COO of Taskmo, “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.”.
Taskmo founders, 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.
Taskmo will continue to operate independently under the Quess Corp umbrella, maintaining its commitment to providing innovative solutions for the gig economy. The acquisition is expected to further strengthen Taskmo’s position in the market and accelerate its growth trajectory.
