Afternoon Coffee: Coupa to Buy Trade Extensions, TaskRabbit Contemplates a Sale Stock

In case you missed it, Coupa announced after market close Friday it had entered into an agreement to buy Trade Extensions, a specialist e-sourcing and strategic sourcing optimization vendor. Coupa will pay $45 million for Trade Extensions when the transaction closes and the existing management team at Trade Extensions will likely remain in place, the Spend Matters analysts wrote.

“Spend Matters analysis of the sourcing optimization market and different technologies suggests that for firms looking for best-in-class advanced sourcing capability, Trade Extensions is in the enviable position of having no peers. The data science behinds its sourcing optimization is even respected by competitors with optimization capability themselves.”

TaskRabbit Acquisition?

Gig economy standard bearer TaskRabbit is weighing the possibility of a sale. Recode reported that TaskRabbit is contemplating a sale after receiving inbound interest from a possible strategic buyer.

Trade News

The Trump administration is seeking “tangible results” in improving its trade relationship with China within 100 days, according to the Wall Street Journal. The stated goals are to considerably narrow the U.S.-China trade deficit and increase total trade between the two nations, Commerce Secretary Wilbur Ross said.

Oil Jumps

And finally, a commodities update: Oil rose toward $56 a barrel on Monday, Reuters writes, after Libya’s largest oil field shut down and geopolitical tensions increased following a U.S. missile strike on Syria.

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