Omni Lending

Instantly lend anything you own to your friends.

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1 Review5.0/5
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:
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@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.
@delk Congrats on the launch! Exciting stuff.
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?
@mg this is amazing. im gonna have to borrow this sometime
Step 1. Get everyone to store their stuff on Omni Step 2. Use this sitting inventory to bootstrap a peer-to-peer marketplace. Step 3. ??? Smart move. The hard part from my POV is getting to scale where the economics make sense and there's a critical mass of inventory for a variety of needs.
@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.
Anyone else think that after PH @rrhoover will be a killer VC?
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.
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!!!!