$35M-funded Omni pivots from storage to rentals via retailers

TechCrunch | 4/23/2019 | Staff
Click For Photo: https://techcrunch.com/wp-content/uploads/2019/04/Omni-Bike-Store-Rentals.jpeg?w=741

Omni simply couldn’t scale storing stuff in giant warehouses while dropping it and off picking it up from people on demand. Storage was designed to bootstrap Omni into peer-to-peer rentals of the goods in its care. But now it’s found a better way by partnering with retailers which will host and rent out goods for Omni that users will pick up themselves.

With that strategy, Omni is now formally pivoting from storage alongside its expansion from San Francisco and Portland into Los Angeles and New York. In SF and its new markets starting today, users can rent GoPros, strollers, drills, guitars, and more for pick up and drop off at 100 local storefronts which will receive 80 percent of the revenue while Omni keeps 20 percent.

Storage - Rentals - Marketplace - Storage - Everything

“Storage was always meant to supply a rentals marketplace. We launched storage in an Uber-for everything era and now it’s no secret that physical operations are tough to scale” Omni’s COO Ryan Delk telss me. “This new model gives our users more supply, local entrepreneurs a new revenue stream, and us the ability to launch new markets much more quickly than the old model of building rentals on top of the storage business.”

To that end, storage won’t come to any more markets, though storage services with delivery will continue in San Francisco. Users there and in Portland will also be able to pick up and drop off rental items from a few Omni-owned locations including its SF headquarter office. Omni will add retailer pickups in Portland and more in San Francisco soon.

Ownership - Bit - Burden - Delk

“Ownership has a bit of a burden associated with it” Delk tells me,...
(Excerpt) Read more at: TechCrunch
Wake Up To Breaking News!
Hell sometimes looks an awful lot like an office cubicle.
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!