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Omni Lending — Instantly lend anything you own to your friends.
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@rrhoover I agree that network effects are a huge component of this offering, and I think it was wise of Omni to start as a storage company (getting more and more inventory that is - by definition - not in use) and then expanding to a network-leveraging offering based on that existing unused inventory. Also very smart to start with geographically dense areas to drive that inventory and grow the network.
Lots of challenges to building this type of business, but it seems like they're leveling up in an intelligent way.
@joshdoody @rrhoover So we look at it like this: Omni is already an amazing solo experience and that's not going to change, but in the past the main reason to use us was clearly just storage. As we start to launch more features like lending it diversifies the use cases, expands the market size, and now it's an amazing community experience. Omni is now better with friends.
I totally agree with the increased complication of unit economics, but our unit economics are firmly rooted in subscription backed monthly recurring revenue, and all our tests thus far show lending both acquires more users at a lower cost, and increases the amount of items both people anticipate managing with Omni. It's a win for everyone.
Haven't tried the product yet but have always found this an interesting space. I think the user's reputation should play a massive part here, enabling 'friends of friends' extended circles which assists the critical mass challenge. AirBnB is obviously the go to place for design inspiration as their user flows and subtle gamification of reviews/rep work perfectly. Good luck!
So smart. A lot of my stuff is at Omni already, and the service has been excellent. I'm excited to give this a try!
You need a mailing list for when you're available in NYC. Been wanting this for a while now.
Huge fan of Omni as it is with plenty of stuff in storage. Lending via Omni takes the headache out of A) getting your stuff to your friend and B) how often I completely forget that I lent stuff out. Very exciting.
Now, who wants to borrow my Drive scorpion jacket?
This is a super exciting evolution of the Omni product, and an impressive one coming so soon from a relatively new company. I've been involved in the Sharing Economy (Getable (b2c marketplace for product rental), Collaborative Fund, Lyft) for 5+ years and this is one of the most potentially disruptive products I've seen since day 1. This is the team to pull it off and I look forward to seeing them do it.
Amazing progression! I was user ~100 and have been consistently excited by the improvements of the app and service. I primarily use Omni to store camping / outdoor athletic gear. Being able to easily lend it to friends without having to do the handoff myself makes life easier for everyone.
@elizabethhunker Thanks for the feedback! Is it that the pricing needs more clarity/better communication, or that you're fuzzy on how it sustains the business? Always looking for ways to improve our messaging!
Congratulations on the launch @delk and @tmcleod3!!
The loaning idea is GENIUS! So cool to see it finally fully launched! Will definitely be looking here to loan things for my next trips. I've often found myself in need of things but not wanting to buy the entire thing.
Really impressed by the pace you guys are moving. From launching the storage portion of the company just half a year ago to taking on lending already.
What went into the decision of launching lending now rather than focusing 100% on storage for another year before putting out lending?
Crush it!!!!
Excited to see this happen @delk! I've become a default outdoor gear guy for friends & family, will be awesome to have this organized in an even smarter way. Once you expand to Nashville that is 😉
@mattragland Thank you! The goal here is exactly that -- to make it even easier to lend items to friends and family when they need them, without having to both be available at the same time / place to transfer the item.
We launched Remote Checkouts (https://blog.beomni.com/adieu-ba...) a few weeks ago too, so you can check out items from your Omni anywhere in the world. Couple this with the new lending feature, and you can lend items to anyone with an Omni account (no matter where they live), and we'll handle the rest.
@delk dude. Love this. Or pick back up, considering my gear has been with a friend for several weeks now. With Omni, problem solved.
Congrats on the launch guys! Is this friend to friend only? Or I can choose to lend my tent, for example, to anyone?
@andrewett Thanks, we're excited! Officially, you can lend items to anyone who's phone number you have - the app allow you to select a contact from your device, or key in a number. Folks that are not in SF can borrow your stuff too, and use our remote check-out feature to have it sent their way. Then, they can use remote check-in to send it back to Omni. So, who you lend to is totally up to you!
@richartruddie We've got a few things in the works that will help nudge friends to return borrowed items. Hoping to solve that problem too!
Does this mean I have to get all my stuff back from Omni before you guys "pivot"? Well I guess this move is a no brainer since you already have an app... And a van.
@evankimbrell no pivot in the cards... this has been in the business plan since day 1 .
The P2P lending library world is littered with failed companies, including my own valiant attempt with Frenting. Other than the obvious problem of user acquisition, the big issue for us was getting people to contribute their inventory to the library. I'm sure the folks at Neighborrow, Neighborgoods, Yerdle, Share some sugar, etc. would agree. This is a genius way to overcome that hurdle. This is sharing done right - solve a real problem first (storage) and then add real value by increasing asset utilization and monetizing stuff that would normally just sit around gathering dust. Wonderful work!
For best lending service please follow the link: https://onata.com/lendandborrow/
Pros:In lending we can lend money and not only money we can lend any products. This is an such a good services
Cons:I think i don't have an idea for better.
Hey ProductHunt — excited to be featured on here today! We’re launching something that I’m really excited about. Myself and other members of the team will be around all day to chat, excited to answer questions, hear thoughts, and get feedback from the community.
Omni is veering away from the storage pack with this new lending feature, which essentially enables you to loan anything to a friend with a text message – Omni handles delivery and pick up. Instant transfer of ownership with anyone you know.
It’s a way for communities to give each other access to things of value while they aren’t being used, and to reduce the need for everyone to own everything – the stuff stored in Omni is a real economy in itself, so layering this kind of effortless shareability on top is a truly exciting realization of a “real” sharing economy.
There's a lot more info on our blog too, for those interested: https://blog.beomni.com/lending-...
@delk Congrats on the launch! How do you guys think about when to expand beyond SF?
@eriktorenberg Thanks Erik. This launch is actually an interesting component of how we'll inform expansion, as Omni grows beyond just storage and into changing access and ownership.
There are obvious cities where Omni will work well, but there are also smaller markets with very strong and predictable demand for certain items that many people probably aren't thinking about -- I see these being equally solid markets for us long term.
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