Handybook has acquired a San Francisco based startup called Exec, which allows people to book house cleaners using a mobile app. According to The New York Times, the deal was worth under $10 million and it was paid almost entirely in Handybook stock.
Exec spun out of Y Combinator in 2012. Initially Exec started off as a way for people to receive deliveries, share rides, or help with tasks. Most of the people used the app for booking cleaners, which is why that became the major focus of the company.
Handybook is currently in early stages. The company as founded in 2012 and has raised about $12 million in funding. The terms of the deal started being discussed in October. Exec will continue to operate as a standalone business and will remain in San Francisco.
Handybook is based in New York and Exec’s 10 employees will create the West Coast office for the company. Justin Kan is the CEO and founder of Exec. Kan is known for creating life-casting company Justin TV and helped start TwitchTV and Socialcam. Kan will work as an adviser to Exec now.