For many companies, an initial public offering is a big deal. It's a maturation point and, for business owners who have aspirations of making it big, an essential part of the business formation process. Firms that undergo the rather laborious process of filing with regulatory agencies and making required disclosures can be rewarded with a financial windfall if investors snap up their stock.

An IPO may be what TaskRabbit, a San Francisco company that facilitates people hiring local workers to complete small projects, has in mind. But for now, TaskRabbit is doing fine from a fundraising perspective. It recent raised nearly $18 million in its second round of financing, bringing the two-year-old company's total to $25 million.

TaskRabbit works by allowing users to post a job (say, washing a car or running to the grocery store) for other users to see. Users then "bid" for the job. TaskRabbit then takes a small portion of the winning bid as its fee. It is currently available to people in Los Angeles, Orange County, San Francisco, New York, Chicago and Boston. It hopes to move into other areas soon.

So, will TaskRabbit ever make it big? Only time will tell. One thing that is for certain, though, is that as it grows, it will have ever more rules and laws with which it must comply. This is why companies that are undergoing expansion plans or are growing rapidly often work very closely with attorneys who understand business and corporate law. Having someone at the ready to answer any questions can offer a lot of peace of mind.

Source: The San Francisco Chronicle, "TaskRabbit raises $17.8 million in financing round," Casey Newton, Dec. 14, 2011