Worten acquires 100% ownership of Zaask
The Sonae Group's company will hold 100% of the capital of this digital project created in 2012 by Luís Pedro Martins (CEO) and Indian Kiruba Eswaran (CMO).
Worten has acquired Portuguese startup Zaask, which owns a marketplace with the same name specialising in hiring services at a local level, ranging from painting a house to arranging a tutor for the children.
The value of the deal has not been disclosed by the parties involved in the operation, but ECO found that the Sonae Group’s company will hold 100% of the capital of this digital project created in 2012 by Luís Pedro Martins (CEO) and Indian Kiruba Eswaran (CMO).
“We understand this operation as another step to strengthen Worten’s leadership in Portugal, namely in the services area. Zaask’s business model is one that [we have] been following and in which [we intend] to invest in the future,” said Miguel Mota Freitas, CEO of Worten, quoted in a statement.
The list of investors that have now sold their stakes to Worten, includes Portugal Ventures, which entered eight years ago in this project that presents itself as a kind of “Amazon of services”. Besides the public venture capital manager, two other Portuguese private equity companies are also identified: Shilling Capital Partners and Bynd Venture Capital.
Zaask emerged almost a decade ago, to connect people who needed to perform tasks at home to others without work who wanted to do odd jobs. But in 2018, it ended up focusing on professionals and also changing the business model, no longer working on commission and charging a fee to service providers to access the platform.
